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President Ruto Reveals Main Reason He Wants KICC And 10 Other Parastatals Privitased 

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President William Ruto on Wednesday December 13 disclosed that several state companies and entities listed for privatisation are wasting taxpayers money. 

Speaking during the Diaspora forum, Ruto said the government has bankrolled billions into the agencies but they have never recorded any positive growth. 

“We are spending billions of shillings sustaining companies. We have 350 public companies that just take money from the government. Some of them ask, what is this one doing, no one can tell you that,” Ruto stated. 

“So some of those things we are going to make decisions and by the way, a report was already done saying that these 150 companies should be privatised because what they are doing can be done by the private sector. The private sector will give us more value out of them,” he added.

This comes days after the High Court issued a conservatory order suspending the plans to privatise state corporations.

Justice Chacha Mwita issued the order after the ODM Party through Advocate Jackson Awele filed a petition. 

“A conservatory order is hereby issued suspending implementation of section 21(1) of the Privatization Act 2023 and or any decisions made pursuant to that section, until 6th February 2024 given under my hand and seal of the Honourable court this 4th Day of December 2023,” Justice Mwita stated.

The Treasury had lined up Kenya International Conference Centre (KICC), Kenya Literature Bureau, National Oil Corporation, Kenya Seed Company Limited, Mwea Rice Mills, Western Kenya Rice Mills Limited, and Kenya Pipeline Company for sale.

Others agencies included are; Kenya Vehicle Manufacturers Limited, Rivatex East Africa Limited, New Kenya Co-operative Creameries (KCC), and Numerical Machining Complex.

Also Read: Ruto Govt Suffer Another Blow As Court Supends Issuance Of New IDs

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