Ruto Signs New Law of Privatisation of state corporates
President William Ruto has signed into law the Privatisation Bill, 2023 after being passed by the National Assembly in September.
The bill, sponsored by Majority Leader Kimani Ichung’wah, entails a revised regulatory framework for the privatisation of public entities aiming to improve the efficiency and competitiveness of Kenya’s productive resources.
"It is intended to remove the bureaucratic processes in the privatization of non-strategic or loss-making government entities," reads a report from the National Assembly on Monday.
With Ruto's signature now appended to the Bill, the requirement for parliamentary approval has been scrapped and the Privatization Authority will be established.
The bill further seeks to encourage more participation of the private sector in ...