Kenya to Privatise 35 State Companies
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Kenya to Privatise 35 State Companies
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Description
The Kenyan president says his government is ready to privatise 35 state-owned companies which he said were currently functioning inefficiently due to bureaucracy. President William Ruto says 100 other firms...
show morePresident William Ruto says 100 other firms were also being looked at for possible privatisation in a bid to boost productivity.
Mr Ruto's announcement comes as the country is facing severe economic challenges including high inflation and rising levels of debt.
The IMF recently agreed to a loan of close to $1bn and urged reforms in public sector firms including the power company and Kenya Airways, which suffered record losses last year.
Information
Author | Africa Business Radio |
Organization | Africa Business Radio |
Website | - |
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