President Ruto signs privatisation bill into law

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During the signing of privatisation bill in State House, Kisumu

NAIROBI, Kenya Oct 9...The ceremony which took place at State House , Kisumu was witnessed by Deputy president Rigathi Gachagua and National assembly speaker Moses Wetangula

The Bill removes the bureucracy in the privatisation of Non-strategic or loss making Government entities 

While encouraging more particiation of the private sector in the economy by shifting the production and delivery of products and services to the public sector

In the new move privatisation will be done through initial public offering of shares , sale of shares by public tender , sale resulting from excessive of pre-empitive rights or through any other method that will be defined by the cabinet 

Subsequently the bill provides that the proceeds from the sale of a direct national government shareholding shall be paid into the consolidated bank 

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