The government has listed the Kenya Pipeline Company (KPC), Kenya International Convention Centre (KICC) and New Kenya Cooperative Creameries (KCC) for privatization.
National Treasury also plans to privatise Kenya Seed Company Limited (KSC), National Oil Corporation of Kenya (NOCK), Kenya Literature Bureau (KLB) and Mwea Rice Mills (MRM).
Others are Rivatex East Africa Limited (REAL), Numerical Machining Complex Limited (NMC), Western Kenya Rice Mills Ltd (WKRM) and 35 per cent of Vehicle Manufacturers Limited (KVM).
In a public notice issued on Monday, The President William Ruto Government says it plans to sell the 11 State entities to generate revenue through its 2023 Privatisation Programme.
Treasury says the proposal is based on the Privatisation Act 2023 Section 21 (1) that gives the Treasury CS powers to identify and determine entities to be privatized in the program.
Treasury argues that the privatisation of the 11 entities will enable the Government to rake in more revenue and, among other things, reduce their reliance on Government resources.
National Treasury notice outlined these 8 criteria used to select the 11 parastatals:
• Relevant government policies in respect of privatisation,
• Strategic priorities and policy goals to be achieved by the privatisation,
• The strategic nature of the public entity to be privatised,
• Need to avoid privatisation that may result in an unregulated monopoly,
• The need to avoid privatisation that may accord the new owners special protection or access to credit on concessionary terms as a result of the National Government’s sovereign status,
• The extent of regulatory adjustments required,
• The need to reduce the budget drain on government resources,
• The expected benefits to be gained from proposed privatisation, and any other relevant consideration.
Treasury has asked members of the public to submit their inputs to the Privatisation Programme through the post office, electronically to [email protected], or deliver it by hand to Treasury Building before the close of business on December 11, 2023.