2023-11-23 08:19:19
Kenyan President William Ruto said on Thursday the government was close to privatizing 35 state-owned companies and was considering privatizing another 100 following a change in the law.
“We have identified the first 35 companies that we are going to offer to investors,” Mr Ruto told a meeting of African stock market officials in Nairobi, the country’s capital.
Kenya’s parliament revised its privatization law this year to eliminate bureaucracy and make it easier for companies to sell, he added.
Although it did not explicitly link the sale to the government’s financial difficulties, the country faces serious liquidity problems due to uncertainty over its ability to access financing from financial markets before the maturity of a $2 billion Eurobond next June.
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