Zuko Komisa

Kenya announces the sale of 35 State-Owned companies to “inspire market activity”.
Kenya’s President William Ruto announced on Thursday that the government was ready to begin selling off 35 state-owned businesses.
Ruto claimed that Kenya last month changed its privatization law to cut out “unnecessary bureaucracies” and that the government’s new initiative would increase the number of companies that float in Africa.
Kenya is one of the most indebted countries in the world as a result of borrowing and economic difficulties, having recently borrowed billions from the IMF.
According to Kenyan Treasury figures, they have accumulated more than $66 billion in debt by the end of June — equivalent to around two-thirds of gross domestic product.
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According to Reuters, the last time Kenya privatized a state-owned enterprise was in 2008 when it conducted an IPO to sell 25% of the company’s shares in the telecom operator Safaricom.
“We have identified the first 35 companies that we are going to offer to the private sector. We have another close to 100 we are working with financial advisers on what to do,”
Kenya’s President William Ruto, speaking at the African Stock Exchanges Association’s annual meeting in Nairobi.
President Ruto says 35 State companies earmarked for sale or listing at the Nairobi Securities Exchange pic.twitter.com/v5x3eTOgzp
— Citizen TV Kenya (@citizentvkenya) November 23, 2023
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