Kenya: Finlays to close two flower farms

Multinational flower firm Finlays will close its two farms by December 25 due to the increasing cost of doing business.

According to a statement by General Manager Stephen Scott dated October 18, the directors said they reached the decision since rose prices are dwindling because of oversupply in the European market and decreasing demand.

Further, unfavourable weather conditions, staggering labour costs and weakening exchange rates are also the reasons why the farms are being closed.

Employees who were initially seconded to Murara - formerly known as Hilverda - will also be affected.

Read more at Daily Nation (Stella Cherono)

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