Kenya will soon begin its privatisation drive by presenting stakes in 11 companies including the state oil pipeline, the finance ministry revealed on Monday.
The 11 firms are among the over 35 establishments that are earmarked for sale to partly aid the government in raising funds in the face of mounting debt repayments.
The Ministry had revealed that apart from the Kenya Pipeline Company, which is completely owned by the government, investors can purchase stakes in one of the main convention centres in Nairobi, a text book publisher, agri-business ventures and industrial companies.
The pipeline venture, which is lucrative, has a monopoly on the conveyance of gas and white oil products, the ministry had disclosed in a notice.
This same notice had also invited the public to share its comments on the plan by December 11, as mandated by the constitution.
The East African nation had previously privatised a state-owned company in 2008 with an earliest public offering of a 25 per cent stake in well-known telecommunications firm, Safaricom.
The Kenyan President had last week, said that the government had amended the law governing the sale of state companies in October, to eliminate the bureaucracy that had made the process come to pause.
