Kenya To Privatize 35 State Owned Companies President Ruto Says
Kenyan President William Ruto
The Kenyan president has said his government is ready to privatise 35 state-owned companies which he said were currently functioning inefficiently due to bureaucracy.
In a bid to boost productivity, President William Ruto said 100 other firms were also being looked at for possible privatization.
Mr Ruto’s announcement comes as the country is facing severe economic challenges including high inflation and rising levels of debt.
Last month, the Kenyan government changed a law to make it easier to sell state enterprises to private companies.
The IMF recently agreed a loan of close to $1bn (£800m) and urged reforms in public sector firms including the power company and Kenya Airways, which suffered record losses last year.
