Bacita Sugar Company Limited has announced its exit from receivership following an amicable resolution of outstanding financing and redevelopment issues between its shareholders and Keystone Bank. The development paves the way for the company to resume its planned transformation into a major sugar and agro-industrial hub. KIA Africa Group, the company's investment and operating partner, stated that full ownership and operational control of Bacita has been restored after a conciliation process involving relevant stakeholders. The resolution allows the company to focus on redeveloping the long-dormant sugar estate, with institutional investors already providing backing.
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