Unga’s bread and butter on the line over Covid shocks, delayed payments
Workers at Unga Ltd in Eldoret, in Keya's Rift Valley. The 113-year-old company is close to the brink of falling in the red. PHOTO | JARED NYATAYA | NMG
Regional flour maker Unga Group Holdings Ltd has branded its bakery business “unsustainable” and declared a staff redundancy plan. This is after its revenues were hit hard by a difficult operating environment occasioned by the Covid-19 pandemic, cheaper local brands, imported grain from Uganda and delayed payments from the Kenyan government.
The company, which is listed on the Nairobi Securities Exchange (NSE) revealed through its integrated report for 2020 that the staff layoffs will help breathe new life into its operations as the 113-year-old milling giant teeters on the brink of falling in the red.
