The Sunday Post Newspaper of November 23, 1958, Issue No. 1207

Volume Ref: SP_1958_M033862

  • The financial position of the Kenya Farmers’ Association, as revealed by the Report and Accounts published,has come as an unpleasant shock to many small investors in Kenya and to the business and financial community generally.
  • Referring to the writing-off of 97,595 euros last year and the decision to write-off a further 111,034 euros as bad debts, a Nairobi stockbroker commented: There appears to have been a complete lack of credit control.
  • The KFA went to the public a few years ago for added capital and now the accounts reveal that quite a large percentage of this capital has been given away.