By Rédaction Africa Links 24 with PERPETUA ETYANG
Published on 2024-01-18 15:52:27
The Kenyan government has recently clarified its plans to not sell the Kenyatta International Convention Centre (KICC) amid earlier reports suggesting otherwise. Government Spokesman Isaac Mwaura emphasized that while the government intends to privatize several state agencies, including the KICC, this does not mean that the iconic building will be sold off.
Mwaura explained that the privatization process does not necessarily entail selling off the entities. Instead, it involves entering into contracts with investors for a specified period of time, during which the investors contribute their resources to improve the state agencies and, in return, receive a percentage of ownership. He stressed that the goal is to attract solid investors to drive economic growth and development in Kenya.
President William Ruto also echoed this sentiment, emphasizing that the strategy is to commercialize KICC rather than sell it. Ruto argued that the current mismanagement of KICC has resulted in poor financial returns and that there is potential for the convention centre to generate significant revenue for the government if properly commercialized.
Furthermore, the High Court has temporarily suspended the government’s plans to privatize these state agencies, including the KICC, following a legal challenge from the Orange Democratic Movement Party.
The parastatals listed for potential privatization also include the National Oil Corporation, Kenya Seed Company Limited, and Kenya Pipeline Company, among others. However, the specifics of the privatization process and the fate of these state agencies remain uncertain as the legal and public debate around the issue continues.
Overall, the government’s clarification on the future of the Kenyatta International Convention Centre and the other state agencies indicates a concerted effort to leverage private investments for economic growth and development in Kenya. Whether this will involve outright sales or other forms of partnership remains to be seen as the privatization plans unfold.
Read the original article on The Star
