Deal #1968

In the 1990s, KSWL was rehabilitated by Booker Tate Limited with aid and loan agreements for various funders underwritten by the Ugandan government. Sugar production resumed in 1995. Following the resumption and stabilisation of sugar production, the government sold 51 percent shareholding in Kinyara Sugar Works Limited to the Rai Group, a Mauritius-based investment group. In September 2011, the Uganda government sold a further 19 percent shareholding in KSWL to the Rai Group for US$9.1 million in cash.