Kenya: Massive privatization of sugar industry to take place over the next year

The government’s interests include 38.8 percent of the Intercontinental Hotel in Nairobi, 40.57 percent of the Nairobi Hilton Hotel and 39.1 percent of Mountain Lodge.

“No estimates have been given how much government expects to realize from the sale of those shares in the three prime properties,” the commission said last week.

The government has ruled out the privatization of the National Bank of Kenya Ltd., Obwocha said.

The state “injected billions of shillings into the bank and therefore holds preferential shares and that would complicate issues if the bank were to be privatized,” he said.

Source: Bloomberg

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