Kenya: Pwani Oil Shuts Down Plant, Suspends Operations Citing Dollar Shortage in Kenya

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(file photo).
6 June 2022
Capital FM (Nairobi)
By Carolyne Tanui

Nairobi — Pwani oil, the manufacturer behind the Salit Oil, Mpishi Poa, and Fresh Fry cooking oil products has announced the temporary halt of its operations citing among others the dollar shortage witnessed in the country which has taken a toll on several manufacturers.

This comes barely a week after the Kenya Association of Manufacturers warned that the ongoing dollar shortage in the country poses a serious threat to the sector members who rely on dollars to import key raw materials and inputs for processing and capital goods for investment.

The crisis, KAM warned is affecting the relationship of manufacturers with suppliers and risks destroying Kenya's reputation as an open market.

In a statement, Rajul Malde, the commercial director of Pwani oil confirmed that the firm has faced challenges in accessing dollars used in paying for imports of crucial materials.

Read the original article on Capital FM.

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