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Kenya's Rivatex to get additional Sh500 mn for expansion, job creation

11
Jun '21
Pic: Rivatex
Pic: Rivatex
The Kenyan government will give state-owned Rivatex Textile Company in Eldoret an additional funding of Sh500 million for expanding and modernising its operations. The first phase of funding of more than Sh5 billion has revived the firm with new equipment, according to Jared Ichwara, director of planning in the state department of industrialisation.

The extra Sh500 million has been factored into the budget to be tabled in parliament.

The company has created more than 3,000 direct jobs and further expansion will boost its performance, Ichwara was quoted as saying by a Kenyan newspaper report.

He was speaking at the Eldoret factory during a monitoring and evaluation tour by the Kenya Vision 2030 delivery secretariat, led by Ken Muige, its director general. Also present was Rivatex chief executive officer Thomas Kipkurgat.

He said more than 4,000 farmers are also being supported to plant cotton. They have been given seeds, pesticides and other inputs and support.

Between 2008 and 2020, the Vision 2030 initiative has contributed about 9.2 per cent to the manufacturing sector’s growth.

Modernisation of Rivatex was 80 per cent done and will be completed by the end of next year, he added.

Fibre2Fashion News Desk (DS)


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