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Mumias Sugar Company Ltd (NSE: MSC)

Nigel Firth
Nigel Frith trader
Updated 29 May 2024

What is Mumias Sugar Company Ltd

Mumias Sugar Company Ltd is a Kenyan-based sugar manufacturing company and also the largest sugar manufacturer in Kenya, producing about 250,000 metric tonnes (42%) of the estimated 600,000 metric tonnes annual national output.

The company also grows some sugar cane on its own estates that provide up to 7% of its annual output. The primary source of sugarcane is with more than 50,000 registered growers with over 400 square kilometres under cultivation.

In addition to sugar, the company also co-generates 34 Megawatts of electricity, of which some is used internally and the surplus sold into the nation electricity grid.

The company also manufactures 24 million litres of ethanol every year and 20 million litres of distilled water.

The history of Mumias Sugar Company Ltd started in 1971 with the government of Kenya the 71% shareholder.

Mumias Sugar Company Ltd ‘s equity stocks are for sale online on the Nairobi Securities Exchange (NSE) under the stock symbol MSC.

OPEN DEMO TRADING ACCOUNT YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
Mumias Sugar Company Ltd

Mumias Sugar Company Ltd began to experience lowered sugar output and decreased profits in 2012. This was initially blames on inefficiency and a forensic audit by the audit firm KPMG, found procedural and financial irregularities which top management had hid from the company's Board of Directors.

Mumias Sugaer

This lead to a loss of over KSh:1 billion by the company. The top 52 managers were fired and the company asked the government for KSh2.3 billion in bail-out funds, of which KSh500 million had been advanced, as of the first week of February 2015.

As of 24 September 2019, Kenya Commercial Bank Group placed the sugar miller under receivership and appointed the consultancy firm of PVR Rao as the administrator.

Mumias Sugar Company Ltd has its headquarters in the town of Mumias, in Kakamega County, Western Province of Kenya, near the sugar plantations and factories of the company. The company maintains an operations centre in Nairobi.

Mumias Sugar Company Ltd forms part of the Food Processing Industry and the Consumer Goods Sector.

Mumias Sugar Company Ltd Stock Performance

The current price for Mumias Sugar Company Ltd stocks is on it last trading day in 2019 was 0.28 Kenyan Shilling (KES). The company had a total market capitalisation of 444M KES with a P/E ratio of -0.03 and earnings per share of -9.90 KES. A total of 1.53B shares were outstanding.

At present there is no increase of earnings per share or any profits shown over a period. Investors are not advised to buy or sell Mumias Sugar Company Ltd stocks as they cannot be assured of lucrative dividends and earnings in times to come.

Highlights of Mumias Sugar Company Ltd in 2021

Mumias Sugar Company Ltd had no dealings in 2021. The last trading day was on October 15, 2019. The year started with a share price of 0.58 KES, but then recorded a loss of 50% in value on its price valuation, then ranking 59th on the NSE where year-to-date performance was concerned.

Mumias Sugar Company Ltd then rated 11th on the NSE and it had experienced a total trading volume of more than 10.4 million shares, which were finalized in 1,189 deals and were valued at a total of 3.5 million KES over three months, with an average of 4,056 shares in each trading session.

The highest volume shares traded on one single day was 755,900.

Mumias Sugar Co. - How To Trade

How to buy Mumias Sugar Company Ltd stocks – Step by Step

The stock market is one of the most attractive financial markets that sees millions of retail investors and traders' participation daily. To buy, sell or trade Mumias Sugar Company Ltd stocks, traders and investors can follow a few simple steps:

  1. Find the share that you want to buy, in this case, “MSC”.
  2. Select a forex broker that offers access to the Nairobi Securities Exchange (NSE).
  3. Review the broker's trading conditions, fees, deposit and withdrawal methods, trading platform, customer support, regulation, and other components to ensure that they are aligned with your trading plan.
  4. Open a live trading account with the broker by completing the online application form and providing the necessary documentation to verify the trading account.
  5. You are now ready to make your first share purchase through the broker.
  6. You can further start to build and diversify your portfolio by buying more shares.

Traders should however take note that it is not recommended to trade in MSC shares at present.

FAQs

The Nairobi Securities Exchange (NSE), was established in 1954 as Nairobi Stock Exchange, and is the leading stock exchange in East Africa. It offers world class trading facilities for both its local and foreign investors looking to gain exposure to the country’s rising economy.

The exchange is based in Nairobi, the capital of Kenya, which has one of the fastest-growing economies in Sub-Saharan Africa. The NSE operates under the jurisdiction of the Capital Markets Authority of Kenya. It is governed by a board of 11 directors.

In 2008, the NSE launched the NSE All-Share Index (NASI). The NASI is a market capitalization-weighted index comprising all listed securities, effectively, the benchmark index for the Kenyan stock market.

In 2011, in conjunction with FTSE International, the NSE introduced the FTSE NSE Kenya 15 and FTSE NSE Kenya 25 indices which are designed for the creation of index tracking funds and derivative products. The NSE 25 Share Index measures the top 25 companies.

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Nigel Firth
Nigel Frith trader
Nigel has been in the regulated financial services industry for nearly a decade, has previously owned a financial brokerage and has written many times for sites relating to personal finance and trading.