Francis Barnabas
Kenya’s Cabinet on Wednesday approved the sale of seven more State-owned enterprises following a meeting chaired by President William Ruto at State House in Nairobi, bringing the total number of entities set to be privatised to 17.
The seven enterprises include privatization of the Development Bank of Kenya.
“The decision (on Development Bank) by our nation’s apex policy-making organ was informed by the fact the Bank had fully transitioned into a fully-fledged depositing taking commercial bank regulated by the Central Bank of Kenya (CBK),” a cabinet dispatch said.
Others earmarked for privatisation are Golf Hotel Limited, Sunset Hotel Limited, Mt Elgon Lodge Limited and Kabarnet Hotel Limited. Hotels under the Kenya Safari Lodges and Hotels Limited -Mombasa Beach Hotel, Ngulia Safari Lodge, and Voi Safari Lodge),
This comes at the backdrop of the initial move taken by the Kenya Kwanza administration seeking to privatise the 11 entities, which includes Kenya Literature Bureau (KLB), Kenyatta International Convention Centre (KICC), Kenya Seed Company Limited, Kenya Pipeline Company (KPC) and New Kenya Co-operative Creameries.
Others are the National Oil Company of Kenya (NOCK), Numerical Machining Complex, Kenya Vehicle Manufacturers Limited, and Rivatex East Africa Limited.
