Africa
Agrochemical and Food Corporation
Ark Ltd.
Chemilil
Commission
Consolidated Bank
Creameries
Development Bank of Kenya
Disqus
Distell Group Ltd
East African Portland Cement
Golf Hotel Ltd
Henry Obwocha
hotels
International Hotels Kenya Ltd
Isolated Power
JavaScript
KenGen
Kenya
Kenya Hotels Properties Ltd
Kenya Meat Commission
Kenya Pipeline Corporation
Kenya Ports Authority
Kenya Tourism Development Corporation
Kenya Wine Agencies Ltd
Miwani
Mountain Lodge Ltd
Mt Elgon Lodge Ltd
Muhoroni
National Bank of Kenya
National Treasury
New Kenya Co-operative
Numerical Machining Complex
Nzoia
Obwocha
PricewaterhouseCoopers (PwC
Safari Lodges
Sony
South Africa
State
Sunset Hotel Ltd
The Privatisation Commission

Agency seeks manager to kick-start stalled sale of State firms

The Privatisation Commission is seeking a chief manager in charge of transactions as it moves to unlock the stalled sale of poorly performing State-owned firms. The commission was established in 2008 with the brief to sell 26 poorly performing parastatals to strategic investors and reduce their reliance on taxpayers.But the team led by former assistance minister Henry Obwocha has only managed to conclude a single deal over the decade.“Reporting to the chief executive officer, the chief manager transactions will be required to lead privatisation transactions in the commission,” said the Commission in a notice from PricewaterhouseCoopers (PwC) — which is leading the executive search.

In 2014, the Commission sold a 26 per cent stake in Kenya Wine Agencies Ltd (KWAL) to South Africa’s Distell Group Ltd, Africa’s largest producer of spirits, wines, ciders and ready-to-drinks.Mr Obwocha was recently quoted saying that due diligence on some firms, which he did not name had revealed that they don’t need to be privatised.READ: Sale of State sugar firms on after suit flops“Once we do the due diligence and find out that the company is doing well we hand it over to the National Treasury,” he said.The parastatals the government approved for sale include National Bank of Kenya, Consolidated Bank of Kenya, Kenya Meat Commission, Development Bank of Kenya, East African Portland Cement, Kengen, Kenya Pipeline Corporation, Kenya Ports Authority, and five sugar millers: Chemilil, Sony, Nzoia, Miwani and Muhoroni.Others are Agrochemical and Food Corporation, New Kenya Co-operative Creameries, Numerical Machining Complex and Isolated Power stations, hotels (Kabarnet hotel, Mt Elgon Lodge Ltd, Golf Hotel Ltd, Sunset Hotel Ltd, Kenya Safari Lodges and Hotels Ltd).Also on the disposal list are Kenya Tourism Development Corporation associated companies, which include International Hotels Kenya Ltd, Kenya Hotels Properties Ltd, Mountain Lodge Ltd and Ark Ltd.

Please enable JavaScript to view the comments powered by Disqus.

Share this Post

by

Search