According to a cabinet brief sent to newsrooms, Cabinet said the bill would facilitate the government’s disposal of loss-making enterprises and free up resources for development.
“To support the state’s divestiture from non-strategic sectors of our national life, Cabinet approved the Privatization Bill.
“The revised policy shift seeks to revitalize Kenya’s capital markets through the review of the framework for state divesture as part of a wider reform process targeting public enterprises,” the statement read.
The bill is expected to set the executive on a collision course with MPs, when it is transmitted to the National Assembly where President Ruto’s UDA controls a majority.
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