Sharp Daily
No Result
View All Result
Sunday, September 14, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Not all govt parastatals up for privatization will be sold, Kimani Ichungwah

Brenda Murungi by Brenda Murungi
December 8, 2023
in News
Reading Time: 2 mins read

The National Assembly majority leader, Kimani Ichung’wah, has said not all government parastatals that are up for privatization will be sold.

During an interview with one media outlet, Ichung’wah strongly disbanded the idea that privatization means completely selling and giving away ownership of the government parastatals.

To clarify the matter, he gave an example of how stakeholders in western sugar companies can lease the factories to investors who can modernize production, which in turn would generate revenue for the families in the region.

The Kikuyu MP also implied that the companies could be sold to the public via initial public offerings (IPOs) in order to generate greater profits.

RELATEDPOSTS

Real Estate project financing models shaping successful developments

September 12, 2025

Alternative investments: Opportunities and risks

September 12, 2025

“I want to disabuse the notion that when you talk of privatization, you’re talking about an outright sale. We could have an IPO when Kenyans are given the option to buy into some of these companies,” Ichungwah stated.

In November, the government announced it would start its privatization drive by offering stakes in 11 companies, including the state oil pipeline, as released by the finance ministry.

The companies were slated for sale to partially help the government raise revenue in the face of growing debt repayments.

Various leaders from the companies openly opposed the bill, as others claimed that it was a move by the government to implement state capture.

On December 5, a Kenyan court suspended the government plan to start a fresh privatization drive under a modified law while it heard a challenge that an opposition party had brought against the sales.

The government revised the law governing the sale of state companies in October to eliminate the bureaucracy that had brought the process to a halt, the president said in late November.

Critics said the legal change took away parliament’s oversight of the privatization process.

The majority leader pleaded with Kenyans to await the privatization program to be finalized, and after it is submitted to parliament, the specific details on the companies to be privatized in the various models will be out.

This, he said, is in a bid to save the government hundreds of millions that are spent running parastatals that could be tweaked to generate revenue.

Amidst opposition and legal challenges, the debate centers on revenue generation, ownership models, and the impact on the economy.

 

 

 

 

 

 

Previous Post

BCCK, Jersey Finance unite to fuel African investment

Next Post

African nations call for clean cooking, seek support from developed countries

Brenda Murungi

Brenda Murungi

Related Posts

News

September snapshot: CMMF yields 13.12% as month unfolds

September 5, 2025
Private equity investment business concept
News

Private equity and insurance

September 4, 2025
News

Kick financial goals: Invest with CMMF this football season

August 22, 2025
commercial illustrator
News

Why Kenyan private equity firms should consider continuation funds as an exit strategy

July 23, 2025
Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
News

Private vs Public Pension Funds in Kenya

June 30, 2025

LATEST STORIES

Real Estate project financing models shaping successful developments

September 12, 2025

Alternative investments: Opportunities and risks

September 12, 2025

Mid-September momentum: CMMF posts strong yields and growing trust

September 12, 2025

Unlocking Home Ownership Through Retirement Savings in Kenya

September 12, 2025

The role of FDIs in driving sustainable development

September 11, 2025

How increased oversight can clean up the insurance sector without stifling innovation

September 11, 2025

Why retail investors hold the key to Kenya’s capital market growth

September 11, 2025

Kenya’s new banking policies: A turning point for the financial sector

September 11, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024