The administrator of troubled cement maker Savannah Cement has said it would take more than a decade for a turnaround strategy for the company to work. Mr Peter Kahi was quoted by the Business Daily as saying that prior to going under in 2022, the company had been making losses for five straight years and might therefore not be revived. In a report, Mr Kahi observed that a revival of the company would be costly and even with the long turnaround efforts, positive results were not guaranteed.
The company is heavily indebted with at least two local banks owed more than Ksh 14 billion, reports the authoritative paper.
