President William Ruto assents to the Privatisation Bill 2023 at Kisumu State Lodge.
A cabinet meeting chaired by President William Ruto on Monday rescinded an earlier decision to privatise 26 companies in which the government holds a stake.
President Williams Ruto has signed the Privatisation Bill, 2023 into law. It repeals the Privatisation Act, 2005 which was enacted before the current Constitution. The Bill removes the bureaucracy in the privatisation of non-strategic or loss-making Government entities.
Ruto reversed a cabinet decision made on August 12, 2009, to privatise the firms as a way to mobilise resources for additional investments and cut governments’ involvement in businesses.
