Finlays Kenya to close 2 farms in KerichoOctober 21, 2019
NAIROBI, Kenya, Oct 21-Multi-national flower firm Finlays Kenya has announced the closure of its two farms by December 25 declaring all positions redundant.
In a statement, General Manager Stephen Scott said the farm has been experiencing challenges from the external market leading to low returns.
“Due to an oversupply in the European Market and decreasing demand, the price of roses has remained very low,” said Scott, “We have also experienced a weakening exchange rate, extreme weather conditions and high labour costs.”
The multinational has previously incurred losses running into millions of shillings following a workers’ strike that had brought its tea processing business to a halt and led to the destruction of property.
In 2017, the company also experienced massive losses where 40,000 employees under the Kenya Agricultural and Plantation Workers’ Union (KAPWU) in Kericho, Bomet and Nandi downed their tools.
The move cost members of the Kenya Tea Growers Association (KTGA) including James Finlay, George Williamson, Kaisugu, Tea Research Institute millions in revenue as it severely paralyzed operations including picking and processing.