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October 9, 2025
5h ago

Foreign Investor Takes Over as Govt Leases Moi University-Owned RIVATEX

Foreign Investor Takes Over as Govt Leases Moi University-Owned RIVATEX

The government has vowed to pay all of the company's debts...

✨ Key Highlights

The Kenyan government has leased the Moi University-owned textile company, RIVATEX East Africa, to a foreign investor, Arise Integrated Industrial Platforms, due to significant financial losses and debt.

  • RIVATEX had accumulated losses of Ksh3.04 billion and debts exceeding Ksh140.92 million.
  • Principal Secretary for Trade and Industry Public Services Juma Mukhwana stated the government paid pending employee salaries and will cover the company's liabilities.
  • The new investor, Arise, plans to initially employ 118 people and hire more in the future.

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