President William Ruto has revealed the wastage of taxpayers' money in several state companies and entities listed for privatisation.
Speaking during a Diaspora forum on Wednesday, December 13, Ruto revealed that some of the listed entities were receiving funding in tunes of billions to save them from collapsing.
He however lamented that the government was not recording growth and profit despite being bankrolled by the state.
Additionally, Ruto indicated that some officials would not account for the companies' mandate and jurisdiction leaving him with a tough decision to make.
"We are spending billions of shillings sustaining companies. We have 350 public companies that just take money from the government. Some of them you ask, what is this one doing, no one can tell you that," Ruto stated.
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"So some of those things we are going to make decisions and by the way, a report was already done saying that these 150 companies should be privatised because what they are doing can be done by the private sector. The private sector will give us more value out of them," he added.
Further Ruto revealed that the Ruto asking the government to privatise some entities was released 10 years ago but the past regime led by former President Uhuru Kenyatta did not implement it.
The Head of State vowed to implement it despite the repercussions insisting that it was a way of saving the country from wastage.
"But the report has been here for 10 years because it is a very difficult decision to make. But I will make the decision, I promise you. I make the decision and take the consequences because Kenya must move," Ruto reiterated.
His bold pronouncement came after the High Court suspended the plans to privatise the Kenyatta International Convention Center (KICC) and other 10 other state corporations.
Justice Chacha Mwita issued the order after ODM through Advocate Jackson Awele said the public was not allowed to give its views regarding the Privatization Act which made it easier to sell the state enterprises to private companies.
Other entities that had been listed from privatisation include Kenya Literature Bureau (KLB), Kenya Seed Company Limited, Kenya Pipeline Company (KPC) and New Kenya Co-operative Creameries (N-KCC).
National Oil Company of Kenya (NOCK), Numerical Machining Complex, Kenya Vehicle Manufacturers Limited, and Rivatex East Africa Limited were also included.
