MUMIAS INVESTOR WHY RAO - DEVKI KWALE LINKS ARE WORRYING.

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There are three things that cannot be hidden for long: The sun, the moon, and the truth.

Last week, the truth behind the close tie between Mumias Sugar Company Receiver Manager PRV Rao and Devki Group was made public. 

Apparently, Rao and Devki of Narendra Raval started transacting businesses long time ago.

This became evident during the grilling of Rao about leasing of Mumias by the Standing Committee of Agriculture chaired by Embu senator Njeri Ndwiga

“There was a time I was the Receiver Manager of Kwale International Sugar Company I sold machines as scrapes to Devki steel,” Rao told the senators.

Rao and Devki are believed to have struck a deal that would have seen the latter take over Mumias Sugar Company.

However, the deal between Rao and Devki hit a snag due to public outcry that led Devki to withdraw his bid to avoid being subjected to public scrutiny on how he had won the bid.

Farmers, political leaders and players in the sugar industry were shocked how Devki may have won the bid to revive Mumias at the expense sugar firms that had also applied.

Details show that of the eight bidders, Devki was the lowest with Sh5billion, Sarrai Group Sh6billion, Kibos Sugar Sh7billion, Third Gate Capital Management Sh6billion, Premiere JV Sh6billion, Godavari Enterprises Sh11billio, Catalysis Group Sh10billion and Kruman Associates Sh12billion.

Although Rao said the process was incomplete and no entity had been picked, how Devki came out to say he was coming to inject in Sh5billion only when there was a bidder with Sh12billion left many with questions.

This is after Mr Raval came out openly to say he was on his way coming to revive Mumias and in 30 days, the smoke according to him was start billowing through the rusted chimneys of Mumias sugar.

Following the admission by the Receiver Manager, angry cane farmers drawn from Busia, Bungoma and Kakamega now want Raval locked out of the plan to lease out Mumias citing conflict of interest.

The farmers led by National Secretary General of Kenya Association of Sugar and Allied Products (Kasap) Peter Odima said farmers lacked faith in Devki.

“The good thing is, Rao said that he had sold some scrap to Devki while he was the receiver manager of Kwale. No any other truth is needed to confirm that Rao and Raval started trading in scrapes sometime back,” said Odima.

Ends

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