- Mumias Sugar shareholder asks CAJ to review CMA’s response on the trading suspension
- Hanningtone says the regulator did not adequately address 33 information requests
- The petition seeks disclosure of records on resuming trading and shareholders’ rights
A Mumias Sugar Company shareholder has asked the Commission on Administrative Justice (CAJ) to review a regulator’s refusal to disclose suspension details.
Shareholder Taiti Hanningtone lodged the petition on September 23, 2026, invoking the Access to Information Act to contest a September 18, 2026 response from the Capital Markets Authority (CMA) to an information request his lawyers had filed on his behalf.
Through that request, Hanningtone had sought answers on 33 separate issues tied to the suspension, among them the grounds for its continuation, the CMA’s own regulatory assessments, what would need to happen for trading to resume, the prospect of delisting, and shareholders’ rights during the standoff.
In its response, the CMA outlined the timeline of the suspension, referencing directives it issued in 2019 and 2020, but stopped short of addressing most of the substantive questions raised. For much of what it declined to disclose, the regulator cited Section 13(2) of the Capital Markets Act, and redirected several matters to Mumias Sugar and its receiver-manager.
Hanningtone contends that this blanket approach fell short of what the law requires. He argues each of the 33 items should have been assessed individually under Section 6 of the Access to Information Act, with the CMA giving distinct justification wherever it chose to withhold information, rather than issuing a single, general response.
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Where parts of a record are exempt from release, Hanningtone is asking that the non-exempt portions still be disclosed, whether as edited excerpts or summaries.
Specifically, he wants the CMA to state plainly whether it holds records on shareholders’ rights and on Mumias’ regulatory obligations while trading remains suspended. He has also asked the authority to disclose whether Mumias has ever submitted a formal proposal to resume trading, what regulatory hurdles are blocking that resumption, and what conditions would have to be met before shares can trade again.
Mumias Sugar’s shares have been off the market since September 2019, when the company was placed under receivership, and the suspension has since been extended indefinitely. Under the Capital Markets (Public Offers, Listings and Disclosures) Regulations, a company in that position is still bound by certain listing obligations, and the framework sets out both a path for a resumption proposal and the regulator’s powers to delist a suspended issuer under specified conditions.
Hanningtone is asking the CAJ to review the CMA’s decision, order it to provide item-specific reasons for any information it continues to withhold, and direct the release of any material that does not qualify for exemption under the Access to Information Act.
By Benedict Aoya
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