RUTO makes another populist move as he forces sugar tycoons to pay farmers a whopping Sh1 billion in bonuses against their wish – Look!

Monday, February 5, 2024 – In a move to endear himself to the common man, President William Ruto has forced tycoons running sugar companies to cough up over Ksh400 Million to pay sugarcane farmers.

Speaking at Kakamega Approved School Grounds, during a church service, Ruto stated that in his negotiations, the sugar company managers expressed a willingness to pay a sum of Ksh 600 million as bonus payments to sugarcane farmers, an offer which he declined, insisting on a Ksh1 billion figure. 

Additionally, he also emphasized the rates paid in bonuses would be subject to changes based on the prevailing market prices.

While making his remarks, Ruto stated that bonuses owed to sugarcane farmers would be paid every year and on time as is done with tea farmers.

“You do not do business without profits, the factory used to mill the sugar even if old, is public property.

"Whoever is running that factory we have to subdivide profits”, Ruto emphasised.

Ruto also explained that the government was spending Ksh500 billion annually on food imports, a figure which he cited as the clearest indication that the government needed to invest in Kenyan agriculture.

Further, in his address, he also noted that the government had repaid in full debts owed by sugar companies and issued them with certificates to signify they were debt-free.

However, he noted that he was yet to settle the case with Mumias Sugar Company as the government was yet to conclude and sort out issues with tycoons involved in the case.

According to Ruto, the government was yet to sort arrears of Ksh4 billion, which had caused delays in the company receiving its certificate. 

The Kenyan DAILY POST