Nipate
Forum => Kenya Discussion => Topic started by: RVtitem on November 03, 2018, 09:10:05 PM
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https://www.the-star.co.ke/news/2018/11/03/state-to-sell-26-companies-to-finance-current-budget_c1844866
The Privatisation Commission has approved sale of 26 state-owned corporations to raise funds to support the budget.
The commission, under the Privatisation Act, 2005, was mandated to sell 26 poorly performing state corporations to cut down government spending.
Those approved for sale are National Bank of Kenya, Consolidated Bank of Kenya, Kenya Meat Commission, Development Bank of Kenya, East African Portland Cement, Kengen, Kenya Pipeline Corporation, Kenya Ports Authority, and five sugar millers — Chemilil, Sony, Nzoia, Miwani and Muhoroni.
Others are Agrochemical and Food Corporation, New Kenya Co-operative Creameries, Numerical Machining Complex and Isolated Power stations, hotels (Kabarnet Hotel, Mt Elgon Lodge Ltd, Golf Hotel Ltd, Sunset Hotel Ltd and Kenya Safari Lodges and Hotels Ltd).
Also targetted are Kenya Tourism Development Corporation-associated companies, which include International Hotels Kenya Ltd, Kenya Hotels Properties Ltd, Mountain Lodge Ltd and Ark Ltd.
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This is a good move. This corporations are white Elephants.
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Good move you say but do you understand that the same people politicians who have stripped and run down these corporations through their cronies will buy them at pennies for a dollar. Remember molasses plant.
This is a good move. This corporations are white Elephants.
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Let them buy the corporations. Did kibaki make bank with transcentury
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When will they sell State House? Uhuru can afford rent.
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The banks, kengen, kplc, kpa can be sold via IPOs. Government needs to get out of private businesses. This is what has led partly to crony capitalism. The main suppliers of all this companies are politicians or connected people.
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EXACTLY. They need to sell the whole lot of it - and use the money to do what gov ought to do - build infrastructure, provide gov services & social safety net - I'd sell nearly all the profitable and hopeless one. Only INFANT industries should remain.
The banks, kengen, kplc, kpa can be sold via IPOs. Government needs to get out of private businesses. This is what has led partly to crony capitalism. The main suppliers of all this companies are politicians or connected people.