The government has listed 11 state companies for privatization in line with the Privatization Act 2023.
In a statement on Monday, National Treasury CS Prof Njuguna Ndung’u asked Kenyans to share their concerns on the Privatization Programme before close of business today.
“Pursuant to the Constitution, the Privatization Act 2023 and all other relevant legislation, the National Treasury
invites members of the public to submit written comments and/or input/memoranda on the 2023 Privatisation
Programme, in the prescribed format and send them electronically to firstname.lastname@example.org or through
post or hand-delivered to the following address on or before of close of business on Monday,” he said.
The 11 entities include; Western Kenya Rice Mills, Kenya Pipeline, New Kenya Cooperative Creameries, Numerical Machining Complex, Vehicle Manufacturers Limited and Rivatex East Africa.
Others are; Kenya Literature Bureau (KLB), National Oil Corporation of Kenya (NOCK), Kenya Seed Company (KSC), Kenya International Conference Centre (KICC) and Mwea Rice Mills.
Treasury estimates that the firms’ restructuring and privatization will help the government generate more revenue, reduce the firms’ need for government resources, enhance the country’s regulatory framework, promote competition, and encourage the private sector to participate in the economy.
CS Ndung’u said that five of the eleven companies are profitable, and their sales should bring in more money for the government because they are in established industries.
“KLB has been making profits over the years, with a turnover of Sh2.68 billion, and a net profit of Sh85 million and dividends of Sh8 million in the FY 2021/2022,” he said.
KLB which is mandated to publish, print and disseminate quality literary, educational, cultural and scientific literature and materials is fully owned by the Government.
The government’s sale of its 52.88% shareholding in Kenya Seed through the Agricultural Development Corporation (ADC) is expected to generate additional revenue in the firm which serves the East Africa region through its subsidiaries, Simlaw Seeds Kenya, Kibo Seed Tanzania, Simlaw Seeds Uganda and Kenya Seed Rwanda.Email your news TIPS to Editor@kahawatungu.com or WhatsApp +254707482874