4 Companies ‘Up for Grabs’ in Privatization Drive – CS Kuria Announces
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Loading... - Eidi Kinuthia
- 27 Apr 2023
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Trade and Investments Cabinet Secretary Moses Kuria, in an effort to woo investors, listed some of the entities the government is set to surrender its stakes in as part of a privatization drive.
Kuria on Tuesday, April 25 talked up the government’s plan to stimulate the capital markets by listing several major companies and parastatals on the Nairobi Stock Exchange (NSE), telling investors that they were ‘up for grabs’
Among them are vehicle manufacturer Isuzu East Africa. The Kenya Development Corporation (KDC) had earlier this year confirmed the government’s plan to offload a 20% stake in Isuzu.
Others named by Kuria are stakes in Coca Cola’s bottling subsidiary CCBA, power generation giant KenGen and the Geothermal Development Corporation (GDC). President William Ruto had previously stated that the government would list ten companies on the NSE.
Kuria spoke at the US-Kenya business roadshow in New York City, a forum bringing together investors from the United States and Kenya, as well as government officials and representatives of various organizations. Participants included the NBA, Mastercard, Copia Global, Equity Bank, The Children’s Place, and PVH, which is behind clothing brands like Calvin Klein and Tommy Hilfiger. Read More…
