By Jackson Okoth
Heavily indebted Kenya Planters Co-operative Union (KPCU), which has been under receivership for years, is finally on its final dash to oblivion.
A liquidation process, to run over the next six months, will eventually bring down the curtain of the oldest and largest coffee processor in Kenya.
In a gazetted liquidation order, acting Commissioner for Co-operatives Development G.N Njang’ombe has appointed Stephen Kamau Njoroge-Assistant Director of Co-operatives Audit, Doris Wangui Githua Principal State Counsel, Antony Maina Waithaka, Principal Co-operative Auditor in Murang’a County and Joyce Nkirote Kimuu, Senior State Counsel, to be joint liquidators for a period not exceeding six months.
The order for de-registration and liquidation of this 75-year old coffee milling and warehousing monolith is contained in a Gazette Notice No. 7963, dated 2nd August 2019 and signed by the Commissioner for Co-operative Development.
The liquidation team at Wakulima House is authorized to take into their custody all the properties of KPCU including books and documents that are deemed necessary for completion of the liquidation process.
The fate of KPCU Board of Directors, led by William Muiruri Gatei, remains fluid as police officers investigate possible theft of loss of assets at the Union.
The list of other dilapidated organizations that are either on their knees, heavily indebted, in receivership or hanging on a string include Kenya Plantation Workers Union (KPWU) and Kenya National Federation of Co-operatives (KNFC).
A financially crippled KPCU has over the years seen the rise of hooligans in the coffee sector, engaged in such heinous acts as stealing coffee beans from the farms, stores or factory floors.
It remains to be seen how a powerful clique of coffee barons and cartels, who are eyeing idle assets of KPCU will play their game in this sale of property worth more than Sh 6 billion.
KPCU’s assets is vast and spread out, including both fixed and mobile hullers in the key coffee growing areas, milling plants and infrastructure including massive godowns and warehouses, located in Nairobi and other parts of the country.
