The International Monetary Fund (IMF) wants a speedy privatisation of Kenya Airways and Kenya Power among others as part of its loan conditions to Kenya.
Kenya has also been under pressure from the IMF to publish beneficial ownership information for successful bidders of new procurements, to enhance transparency and accountability.
These form part of conditions attached to its loans with the latest being KES 55 billion approved on Monday this week.
“Mutually reinforcing prudent macroeconomic policies and resolute implementation of structural reforms remain essential to safeguard positive medium-term prospects,” IMF deputy managing director Antoinette Sayeh said.
President Ruto’s administration is also under pressure to restructure state agencies with duplicating roles, and finding a solution to those that have remained under the exchequer bail list for year.
The Auditor General has so far declared at least 17 state agencies insolvent.
The latest call by IMF sets the ground for the much-anticipated mergers to reduce government expenditure and wastage.
In October, Ruto said the government would bring six to 10 companies to the market through an Initial Public Offer (IPO).
Struggling millers among them Sony Sugar, Nzoia, Muhoroni, Miwani and Chemelil sugar have also been on the offload plans.
See Also:
