Sessional Paper No. 04 of 1988 on Kenya Government Guarantees of Bank Loan Facilities Extended

Abstract

In accordance with the provisions of the Guarantee (Loans) Act (Cap. 461), the following information is laid before the National Assembly:- In its endeavor to promote development in Kenya, the Government supported financially a number of promising projects by persuading the local banks to participate in raising the capital for the projects. Such projects like Kenya Furfural Company Limited in Eldoret, Kenya Chemical and Food Corporation in kisumu, and Kenya Fiber Corporation in Nanyuki, had seemingly very positive feasibility studies" Unfortunately, it transpired that a number of these projects after take-off, started developing financial problems due to various reasons such as marketing...