Eight years on, collapse of Karuturi flower farm haunts Naivasha town
- Daily Nation
- 05 Apr 2022
In the yesteryears, international investors trooped to the Kenyan lakeside town in search of land to grow flowers but it is no longer the case.
In the yesteryears, international investors trooped to the Kenyan lakeside town in search of land to grow flowers but it is no longer the case.
We can no longer afford to pour billions in public money into projects that exacerbate debt, inequalities, poverty and climate change
Cash-strapped Karuturi Flowers in Naivasha is back in court in a bid to stop receiver managers from auctioning its property over Sh1.8 billion debt
Amaryllias Farmland is a new tech-based online platform which allows one to have ownership of managed farmland from anywhere in India and also monitor its operations remotely.
3,000 former workers of the once flourishing Naivasha based flower farm have been gien two months notice to move out and pave way for the sale of the staff quarters.
Elara India Opportunities Fund, which Indian lawmakers suspect may be linked to Gautami Adani, was the largest foreign shareholder in Karuturi Global Ltd, owning 3.25% of the company in 2018.
Seven years after the farm was placed under receivership due to debts owed to Kenya Revenue Authority and a local bank, the final nail has been hammered on its coffin. Workers now worry for the Sh300 million they are owed in salary arrears, union dues and savings.
Stanbic Bank, in Kenya, is now free to auction assets of Karuturi Ltd over a debt of USD 16.6 million after the Supreme Court dismissed an appeal by its shareholders and guarantors.
In an order dated January 25, 2021, Honorable NCLT Bengaluru has initiated liquidation proceedings in the matter of Karuturi Global Ltd.
Après avoir accumulé 2 000 ha à Mbane pour la production des pommes de terre, la société Senegindia passe à l'agriculture sous contrat
"On the other side is Karuturi flower farms - it has also been taken away"