President William Ruto now says that Kenyatta International Convention Centre (KICC) is not being sold to anybody but is going to be commercialised.
Speaking during a joint interview on Sunday, December 17, the Head of State noted that he wanted to change KICC so that it could make money.
"I want to change KICC so that it makes money. KICC is not being sold to anybody, those who want to take photographs can continue taking photographs. Allow me to get a strategic investor," remarked Ruto.
The Head of State disclosed that KICC is valued at Sh30 Billion yet last year it made Sh29 million arguing that it should ideally be making Sh3 billion based on the valuation.
"Many people are very sentimental about KICC. We said we wanted to privatize KICC. KICC is an iconic building, it is the centre of the city. When I came first to Nairobi, I came to that photograph place where we are holding KICC at the top. KICC was not built for photographs. It was built as a national asset.
Read More
"KICC today is valued at Sh30 billion. How much do we get from KICC? Last year we got Sh29 million, the other year I think Sh40 million, what a waste because it's being managed inefficiently," President Ruto explained.
KICC is among eleven government parastatals that Ruto's administration announced they would be privatising.
Read Also: Ruto Government To Sell KICC and 10 Other Parastatals
The other parastatals include; Kenya Literature Bureau (KLB), National Oil Corporation (NOC), Kenya Seed Company Ltd, Mwea Rice Mills, and Western Kenya Rice Mills Ltd.
Others are; Kenya Pipeline Company, New Kenya Cooperative Creameries, Kenya Vehicle Manufacturers Ltd, Rivatex East Africa Ltd, and Numerical Machining Complex.
