Malawi: Salima Sugar Wants K24bn From Govt - but Why Should Malawian Taxpayers Keep Bailing Out a Profit-Making Company?

Malawi: Salima Sugar Wants K24bn From Govt - but Why Should Malawian Taxpayers Keep Bailing Out a Profit-Making Company?

Once again, Salima Sugar Company Limited--a state-owned enterprise--has come knocking on government doors, this time asking for a whopping K24 billion bailout. The question is: Why should ordinary Malawian taxpayers continue footing the bill for a company that was set up to generate profits?

Salima Sugar Wants K24bn from Govt: But Why Should Malawian Taxpayers Keep Bailing Out a Profit-Making Company?

Once again, Salima Sugar Company Limited—a state-owned enterprise—has come knocking on government doors, this time asking for a whopping K24 billion bailout. The question is: Why should ordinary Malawian taxpayers continue footing the bill for a company that was set up to generate profits? The requested bailout is meant to repay a legacy debt incurred […] The post Salima Sugar Wants K24bn from Govt: But Why Should Malawian Taxpayers Keep Bailing…

Salima Sugar pleads for K24bn bailout

State-owned Salima Sugar Company Limited has asked for a government bailout to repay a K24 billion debt inherited after the termination of a shareholding deal between the Malawi Government and AUM Sugar and Allied Limited of India. The company claims that the loans were crippling operations, delaying expansion and negatively impacting sugar production.  Employees packing sugar at Salima Sugar factory yesterday. | Lovemore Khomo Speaking during a…