State finally throws in the towel on KMC
The Ministry of Agriculture plans to sell Kenya Meat Commission (KMC) to a private investor as the government seeks more capital to revive the ailing parastatal.
Agriculture Cabinet Secretary Mwangi Kiunjuri says the State will no longer pump more money into a loss- making entity, adding that the process of selling it will start next week with the formation of a taskforce to come up with a plan for privatisation.
Mr Kiunjuri said a lot of money has been channeled into the firm with the hope of reviving its ailing plant but that there is little to show for it.
“We are going to privatise Kenya Meat Commission. We are in the process and we are setting up a task force next week, which will comprise officials from the Privatisation Commission,” said Mr Kiunjuri in a news conference on Wednesday.
Livestock Principle Secretary Harry Kimtai said privatisation of the firm will make it economical viable and boost export of animal products from Kenya to other countries.
“We have four international slaughterhouses and we are also building additional ones in four Counties. In total, we are going to have eight export slaughter houses. KMC has had its fair share of challenges which might not be addressed in any other way than through privatisation,” said Kimtai.
The Athi River-based plant now joins the list of 26 other government parastatals that have been earmarked by the Privatisation Commission for sell to strategic investors.