company s associated football club see mumias sugar fc . mumias sugar company limited type public nse msc industry manufacture & marketing of sugar founded 1971 headquarters nairobi & kakamega county kenya key people dan ameyo chairman coutts otolo managing director products sugar number of employees 1 689 2014 1 website homepage mumias sugar company limited is a sugar manufacturing company in kenya the largest economy in the east african community . it is the largest sugar manufacturer in kenya 2 3 producing about 250 000 metric tonnes 42 % of the estimated 600 000 metric tonnes annual national output . 4 contents 1 location 2 overview 3 history 4 ownership 5 governance 6 recent developments 7 see also 8 references 9 external links location edit the company maintains its headquarters in the town of mumias in kakamega county western province of kenya near the sugar plantations and factories of the company . mumias lies approximately 395 kilometres 245 mi by road northwest of nairobi . 5 the company maintains an operations center in nairobi the capital of kenya and the largest city in that country . overview edit mumias sugar company is primarily engaged in the manufacture and sale of sugar . the company grows some sugar cane ; its own estates provide up to 7 % of its annual output . its primary source of sugarcane is over 50 000 registered out growers with over 400 square kilometres 99 000 acres under cultivation . it has also piloted the production of a hybrid high yielding palm oil variety in areas previously thought too cool for commercial cultivation in collaboration with the un food and agriculture organization fao . 6 in addition to sugar the company co generates 34 megawatts of electricity . some of the electric power is used internally and surplus is sold into the nation electricity grid . the company also manufactures 24 million liters of ethanol annually and 20 million liters of distilled water every year . 7 history edit the company was founded in 1971 with the following shareholding profile a government of kenya 71 % shareholding b commonwealth development corporation of the united kingdom 17 % shareholding c kenya commercial finance company 5 % shareholding d booker mcconnel 4 % shareholding and e east african development bank 3 % shareholding . 8 the maximum quantity of sugar produced by the company was in 2005 when output amounted to 269 184 metric tonnes . 9 ownership edit in 2001 the shares of tock of the company were listed on the nairobi stock exchange where they trade under the symbol msc . the table below illustrates the shareholding in the company as at september 2014 . 10 mumias sugar company limited stock ownership rank name of owner percentage ownership 1 government of kenya 20.0 2 standard chartered nominee account ke17984 2.31 3 kenya commercial bank 1.72 4 jubilee insurance 1.46 5 abdul karim popat 0.94 6 suresh varsani 0.60 7 pradeep patani 0.59 8 yana trading limited 0.56 9 ramila mavji and harji mavji kerai 0.49 10 cfc stanbic nominees account r57601 0.45 11 other investors via nse 70.89 total 100.00 governance edit dan ameyo one of the non executive directors serves as the chairman of the board of directors . the chief executive officer is errol johnson . recent developments edit beginning in 2012 the company began experiencing lowered sugar output and deceased profits initially blamed on inefficiency . 11 a forensic audit by the audit firm kpmg found procedural and financial irregularities which top management had hid from the company s board of directors leading to a loss of over ksh 1 billion approximately us 12 million by the company . 12 the developments has led to the firing of 52 top managers including the ceo cfo commercial director and company secretary . the company has asked the government for ksh2 .3 billion approximately us 26 million in bail out funds of which ksh500 million approximately us 5.6 million had been advanced as of the first week of february 2015 . 13 legal proceedings against the major culprits in the scam have begun . 14 see also edit list of sugar manufacturers in kenya list of sugar manufacturers in uganda references edit simon ciuri victor juma 2 february 2015 . how president kenyatta brokered ksh500 million mumias bailout . business daily africa nairobi . retrieved 2 february 2015 . wachira charles 22 october 2014 . mumias sugar of kenya idles milling plant for annual maintenance . bloomberg news . retrieved 20 january 2015 . ochiel hezron 9 january 2015 . sugar prices expected to drop as mumias resumes operations . the standard nairobi . retrieved 20 january 2015 . wanga justus 15 november 2014 . troubled mumias set to face shareholders . daily nation nairobi . retrieved 20 january 2015 . road distance between nairobi and mumias with interactive map . globefeed.com . retrieved 20 january 2015 . fao . 24 november 2003 . hybrid oil palms bear fruit in western kenya fao project improves incomes and diets and may reduce imports of food oil . food and agricultural organization fao . retrieved 20 january 2015 . mscl . 2012 . mumias sugar company limited our products . mumias sugar company limited mscl . retrieved 20 january 2015 . overview of mumias sugar company limited . mumias sugar company limited . 2012 . retrieved 20 january 2015 . milestones of mumias sugar company limited . mumias sugar company limited . 2012 . retrieved 20 january 2015 . mburu kinuthia 10 september 2014 . how mumias stock has seen investors lose billions . daily nation mobile nairobi . retrieved 20 january 2015 . wahito margaret 31 august 2012 . mumias profit drops inefficiency to blame . 98.4 capital fm nairobi . retrieved 4 february 2015 . gibendi ramenya 10 december 2014 . top managers made mumias sugar lose over ksh1 billion audit reveals . daily nation mobile nairobi . retrieved 4 february 2015 . andae gerald 4 february 2015 . mumias suspends 52 top employees over loss of ksh400 million . business daily africa nairobi . retrieved 4 february 2015 . kakah maureen 3 february 2015 . mumias sues kebati three ex bosses in bid to recover ksh1 .1 billion . business daily africa nairobi . retrieved 4 february 2015 . external links edit mumias sugar from leading miller to bailout prospect baloobhai patel exits list of top 10 mumias sugar shareholders the bitter truth about kenya s struggling sugar sector coordinates 00 19 58 n 34 29 05 e 0.33278 n 34.48472 e 0.33278 ; 34.48472 retrieved from https en.wikipedia.org w index.php title mumias sugar company limited & oldid 686908815 categories companies listed on the nairobi stock exchangesugar companiescompanies established in 19711971 establishments in kenyasugar manufacturers in kenyacompanies of kenyamumiashidden categories coordinates not on wikidata navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom 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