Corporate

KRA issue can’t make me sale my company, says Keroche boss Karanja

Keroche Breweries Owner Tabitha Karanja has rejected any plans to sell the Naivasha-based brewer over Kenya Revenue Authority (KRA) move to shut the brewer over a Ksh.22.79 billion tax bill.

On Wednesday, Keroche Chief Executive Officer and Co-founder, Tabitha Karanja, accused the KRA of frustrating a staggered clearance of the tax bill.

“Going to sell Keroche I don’t see it happening. I don’t think it can be the best option. Everybody would want Keroche to survive so that we show that we can also do it,” said Karanja.

Keroche has requested the KRA to grant it a grace period of 18 months to clear taxes while also paying the current taxes.

Keroche is expected to raise billions of shillings to avoid placing their assets and those of its shareholders at risk if KRA succeeds in order to clear the unpaid taxes.

The brewery which is famous for its Summit Lager and Summit Malt beer had 36 banks barred from dealing with it.

Over two million litres of beer worth about Ksh.512 million are in store with a fixed maintenance cost of Ksh.30 million per month, according to Keroche, and if nothing will be done in the next one week, many people will be drained from the effects.

“If nothing is done in the next seven days, we will be forced to drain all the beer and lay down over 250 direct employees and thousands within our nationwide distribution network,” said the company.

KRA has invited Keroche Breweries’ owners for talks where the meeting is likelyto give the way forward for the brewer.

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