×
The Standard e-Paper
Informed Minds Prefer The Standard
The Standard Group Plc is a
multi-media organization with investments in media platforms spanning newspaper
print operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a leading multi-media house in Kenya with a key
influence in matters of national and international interest.
President William Ruto assented to the Privatisation Bill 2023 on Monday during a Cabinet meeting in Kisumu. The new law effectively takes the oversight role in the privatisation of State corporations away from Parliament. Those powers have, instead, been given to Treasury Cabinet Secretary
The sale of non-performing State corporations, therefore, no longer requires the Privatisation Authority to get Parliamentary approval. Dr Ruto says this will remove bureaucracy and hasten deals that could take months, or years to conclude. The new Bill ensures that the sale of nonperforming corporations will be done through Initial Public Offers.
Subscribe to our newsletter and stay updated on the latest developments and special offers!
join