The Cabinet on Wednesday approved the selling of government-owned five hotels and a bank to private investors.
In a dispatch from State, House, the Cabinet said the privatization of the Development Bank of
Kenya (DBK) is a move to unlock its full potential and secure the best value for the public.
“The decision 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),” the Cabinet stated.
The other five state corporations to be sold include the Kenya Safari Lodges and Hotels Limited which incorporates Mombasa Beach Hotel, Ngulia Safari Lodge, and Voi Safari Lodge.
Other hotels are; Golf Hotel Limited, Sunset Hotel Limited, Mt. Elgon Lodge Limited and Kabarnet Hotel Limited.
“These divestitures are expected to stimulate the expansion of our nation’s hospitality industry and grow the individual units through private sector investment,” the Cabinet stated.
The apex policy-making organ also sanctioned the digitization of the entire education system,
spanning from basic education to tertiary and university levels.
“This intervention aims to address the governance challenges within our education system that have led to parallel accounts, charging of unauthorized school fees, diversion of the exchequer releases on capitation, and other fraudulent activities that undermine the integrity of the education system, leading to the enrollment of ghost students,” the Cabinet stated.
To address traffic congestion in Nairobi and align with international best practices in city management, the Cabinet approved the implementation of the Nairobi Intelligent Transport System (ITS) Establishment and Junction Improvement Project.
The seminal project is expected to revolutionize traffic management in Kenya, eliminating human interfaces in traffic control, and streamlining the payment of penalties for traffic offenses.
The Cabinet also considered and approved the Kenya Agricultural Business Development Project (KABDP) which will support 29 agricultural value chains, encompassing crops, livestock, and fisheries.
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