INSTITUTION AND
PUBLIC SECTOR SHAREHOLDING |
CURRENT |
|
OBJECTIVES TO BE ACHIEVED PRIVATIZATION |
THROUGH |
17. National Bank of Kenya GOK 22.5%; NSSF: 48.05% |
– |
To mobilize resources to support the Bank’s future growth, support the growth and stability of the financial sector and the capital markets, enhance corporate governance, broaden shareholding and to recoup part of Government investment to finance other development projects. |
18. Consolidated Bank of Kenya: Deposit Protection Fund – 50.2%; and shares allocated to a number of State Corporations and Government institutions on account of deposits placed by
them in the weak banks merged to form Consolidated Bank: 48.8% |
To mobilize necessary resources to support the Bank’s future growth, support the growth and stability of the financial sector, enhance corporate governance and broaden shareholding. |
19. Development Kenya: ICDC: 89.3% |
Bank |
of |
To release funds invested by ICDC for lending to industry and other enterprises. Will address the bank’s financial and management resource needs. Will pass financial and operational risk from Government to the
private sector. |
20. Agrochemical and Food Corporation – ADC: 28.2%; and ICDC: 28.8% |
To address financial and management resource needs. Also to address the company’s excess debt. |
21. Kenya Wine Agencies – ICDC:
72.6% |
To guarantee its continued existence and viability. |
22. East African Portland Cement- NSSF: 27%; GOK: 25% |
Mobilization of resources for additional investments, enhancement of transparency and corporate governance, broadening of shareholding in the economy, development of the Capital Markets and raising of
resources to support the Government budget. |
23. Kenya Meat Commission –
GOK: 100% |
Restructuring and privatization will address KMC’s future
viabilityand the required financial and management resources. |
24. New Kenya Co-operative
Creameries – GOK 100% |
Privatization of the Company will address governance and sustainability of its operations. |
future |
25. Numerical Machining Complex – Kenya Railways
Corporation: 51%; & University of Nairobi: 49%. |
It’s restructuring and privatization will utilization of the company’s idle assets. |
address the |
26. Isolated Power stations |
Concessioning approved by Parliament through Sessional Paper on Energy in October 2004. Inclusion of the Isolated Power Stations in the Programme will
facilitate comprehensive review of the appropriate privatization method. |
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