0

Friday, February 14, 2020 - President Uhuru Kenyatta's Brookside Company has shut down one of its plants in Taita Taveta County signaling the deteriorating state of Kenya’s economy which economists say it is in Intensive Care Unit (ICU).

The plant, Wumingu Cooling Plant, will be closed effective March 1st, 2020.

The Cooling Plant located in Wundanyi town has a capacity of processing 10,000 litres of milk per day.

The closure of the factory is set to render hundreds of residents jobless and deprive dairy farmers of income in millions.

The company joins other firms in Kenya that have closed down certain ventures or branches, leaving at least 25,000 people fired from their jobs in 2019.

In 2019, data from the Registrar of Companies shows that at least 388 companies were dissolved between March and August 2019 alone with the situation expected to get worse in 2020.

Companies that have laid-off workers in 2019 include Athi River Mining Ltd, East African Breweries Limited, East Africa Portland Cement, Andela, Finlay Flowers and Air Afrik among others.

This also comes as hundreds of businesses in Nairobi are being closed daily due to a weakening economy.

The Kenyan DAILY POST
Loading...

Post a Comment

 
Top