Kibos Sugar and Allied Industries Limited

Client:

Kibos Sugar and Allied Industries Limited

Date:

2005, 2007

Location:

Kenya

Sector:

Agri-Business

Project Type:

New

Amount:

US$ 6.05 million; US$ 4 million

Services:

  • Long-term Financing
  • Project Financing
  • Corporate Financing

Description:

Kibos Sugar and Allied Industries is a sugar mill and factory located in Kisumu, Kenya with the capacity for 3,000 tonnes crushed daily. The company depends on out-growers to supply the factory with sugarcane for crushing.

Impact:

Kibos Sugar and Allied Industries Limited locally produces sugar to meet the country’s needs which are currently being supplemented through importation due to inadequate local production. This saves the country foreign exchange which could have been used to import sugar. Currently the company is the single largest employer in the area and has a huge impact in the area through its sugar cane farmers out grower program which has increased the income levels of the community by providing them with an economically viable agricultural activity.