Government lists 26 public institutions for privitization

| April 26, 2024 | Featured | No Comments

The Government of Kenya has listed 26 public institutions that are to be sold. Get the list of all the corporations below.

APPROVED PRIVATIZATION PROGRAMME

INSTITUTION AND CURRENT PUBLIC SECTOR

SHAREHOLDING

 OBJECTIVES        TO        BE        ACHIEVED

THROUGH PRIVATIZATION
1. KenGen – GOK: 70% i.            Mobilization       of       resources                                 for additional investments;

ii.           Enhancement     of     transparency                                and corporate governance;

ii.       Broadening of shareholding in the economy;

v.       Development of the Capital Markets; and

v.       Raising of resources to support the Government budget.
2.Kenya        Pipeline                   Company Limited – GOK: 100% i.            Mobilization       of       resources                                 for additional investments;

ii.           Enhancement     of     transparency                                and corporate governance;

ii.       Broadening of shareholding in the economy;

v.       Development of the Capital Markets; and

v.       Raising of resources to support the Government budget.
3.  Kenya     Ports                      Authority       – Eldoret       Container                      Terminal                              – GOK: 100% Completed     in      1994      but      has      not                            yet   been operationalized.                             Privatization                         to                            address operationalization to serve the Great Lakes Region and Southern Sudan.

Will enhance Kenya’s and regional competitiveness and facilitate investment and economic growth.
4. Kenya Ports Authority –

Outsourcing of Stevedoring Services – GOK: 100%.

 To improve efficiency in delivery of services through mobilization  of                                private                 sector                                financial and management resources.
5.     Kenya     Ports        Authority               – Development of Berths No. 11 – 14 – GOK: 100% Capacity expansion through mobilization of private sector capital and management resources.
6. Chemelil Sugar Company – ADC: 96.21%and DBK: 1.42%. To meet Government – COMESA Sugar Safeguard commitment to privatize sugar companies. Will mobilize resources to support expansion and modernization programme for the company.
7. South Nyanza Sugar Company Limited – GOK: 98.8%, ICDC: 0.7%

and IDB: 0.3%.

 To meet Government – COMESA Sugar Safeguard commitment to privatize sugar companies. Will raise

funds for the rehabilitation of the mill.
8.     Nzoia      Sugar         Company                – GOK: 97.93%, IDB Capital Limited (0.94%). To meet Government – COMESA Sugar Safeguard commitment to privatize sugar companies. Will address the excess debt situation and mobilize resources to support expansion and modernization programme.

 

INSTITUTION AND CURRENT PUBLIC SECTOR

SHAREHOLDING

 OBJECTIVES        TO        BE                                  ACHIEVED                                  THROUGH PRIVATIZATION
9.  Miwani      Sugar                            Company                            Ltd. (Under receivership). GOK: 49% To meet Government – COMESA Sugar Safeguard commitment to privatize sugar companies. Will address the excess debt and the financial and human

resource needs of the company.
10. Muhoroni Sugar Company Ltd. (Under receivership) – ADC: 16.9%, Development Bank of Kenya: 0.3% To meet Government – COMESA Sugar Safeguard commitment to privatize sugar companies. Restructuring and privatization will address the excess debt and the resources required by the company.
11.     Kabarnet      Hotel           –                        KTDC: 98.2% Mobilization of resources to rehabilitate and modernize   existing                                                         facilities.                                                      Privatization proceeds will also support the industry through additional loans by KTDC. Recommended privatization method will also address the best option for

ownership and management of hotels owned by KTDC.
12.    Mt   Elgon     Lodge          Limited          – KTDC: 72.92%; Kitale Municipal Council: 13.54%; and Trans-Nzoia County Council: 13.54% Mobilization of resources to rehabilitate and modernize   existing                                                         facilities.                                                      Privatization proceeds will also support the industry through additional loans by KTDC.

Recommended privatization method will also address

the best option for ownership and management of hotels owned by KTDC.
13. Golf Hotel Limited – KTDC: 80%; Kakamega Municipal Council: 20% Mobilization of resources to rehabilitate and modernize   existing                                                         facilities.                                                      Privatization proceeds will also support the industry through additional loans by KTDC.

Recommended privatization method will also address

the best option for ownership and management of hotels owned by KTDC.
14.        Sunset     Hotel              Limited  – KTDC: 95.4%; Kisumu City: 4.6% Mobilization     of      resources      to            rehabilitate    and modernize existing facilities.    Privatization proceeds will support the industry            through additional     loans by            KTDC.

Recommended privatization method will also address the best option for ownership and management of

hotels owned by KTDC.
15.      Kenya Safari Lodges and Hotels            Limited:              KTDC:            63.42%; KWS 0.02% Mobilization of resources to rehabilitate and modernize existing facilities. Privatization proceeds will support the industry through additional loans by KTDC.

Recommended privatization method will also address the best option for ownership and management of hotels owned by KTDC.
16.              KTDC                                Associated Companies:          (i)                     International Hotels Kenya Limited – KTDC: 40%; (ii) Kenya Hotels Properties Limited                     –      KTDC:                       33.83%; (iii) Mountain Lodge Limited – KTDC: 39.11%;       and                      Ark      Limited                       –

KTDC:5.64%

 Privatization    proceeds    will                               support       the industry through additional loans and investments by KTDC.

 

INSTITUTION AND

PUBLIC SECTOR SHAREHOLDING

 CURRENT   OBJECTIVES        TO                                  BE                                  ACHIEVED PRIVATIZATION THROUGH
17. National Bank of Kenya GOK 22.5%; NSSF: 48.05% – To mobilize resources to support the Bank’s future growth, support the growth and stability of the financial sector and the capital markets, enhance corporate governance, broaden shareholding and to recoup part of Government investment to finance other development projects.
18. Consolidated Bank of Kenya: Deposit Protection Fund – 50.2%; and shares allocated to a number of           State        Corporations           and Government                             institutions                          on account   of           deposits placed by

them in the weak banks merged to form Consolidated Bank: 48.8%

 To mobilize necessary resources to support the Bank’s future growth, support the growth and stability of the financial sector, enhance corporate governance and broaden shareholding.
19.             Development Kenya: ICDC: 89.3% Bank of To release funds invested by ICDC for lending to industry and other enterprises. Will address the bank’s financial and management resource needs. Will pass financial and operational risk from Government to the

private sector.
20. Agrochemical and Food Corporation – ADC: 28.2%; and ICDC: 28.8% To address financial and management resource needs. Also to address the company’s excess debt.
21. Kenya Wine Agencies – ICDC:

72.6%

 To guarantee its continued existence and viability.
22.       East       African             Portland Cement- NSSF: 27%; GOK: 25% Mobilization of resources for additional investments, enhancement of transparency and corporate governance, broadening of shareholding in the economy, development of the Capital Markets and raising of

resources to support the Government budget.
23. Kenya Meat   Commission –

GOK: 100%

 Restructuring and privatization will address KMC’s future

viabilityand the required financial and management resources.
24.        New Kenya  Co-operative

Creameries – GOK 100%

 Privatization    of    the                               Company                               will                               address governance and sustainability of its operations. future
25.          Numerical                Machining Complex                –        Kenya                          Railways

Corporation: 51%; & University of Nairobi: 49%.

 It’s restructuring and privatization will utilization of the company’s idle assets. address the
26. Isolated Power stations Concessioning      approved     by            Parliament            through Sessional Paper on Energy in October 2004. Inclusion of the Isolated Power  Stations in              the                 Programme            will

facilitate    comprehensive   review   of   the        appropriate privatization method.

 

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