State to sell 26 companies to finance current budget

The Privatisation Commission has approved sale of 26 state-owned corporations to raise funds to support the budget.
Those approved for sale are:
1. National Bank of Kenya
2. Consolidated Bank of Kenya
3. Kenya Meat Commission
4. Development Bank of Kenya
5. East African Portland Cement
6. Kengen
7. Kenya Pipeline Corporation
8. Kenya Ports Authority,
Five sugar millers —
9. Chemilil,
10. Sony,
11. Nzoia,
12. Miwani
13. Muhoroni.
 Others are
14. Agrochemical and Food Corporation,
15. New Kenya Co-operative Creameries,
16. Numerical Machining Complex 17. Isolated Power stations,
hotels such as:
18. Kabarnet Hotel,
19. Mt Elgon Lodge Ltd,
20. Golf Hotel Ltd,
21. Sunset Hotel Ltd
22. Kenya Safari Lodges and Hotels Ltd).
Also targetted are: Kenya Tourism Development Corporation-associated companies, which include:
23. International Hotels Kenya Ltd,
24. Kenya Hotels Properties Ltd,
25. Mountain Lodge Ltd and
26. Ark Ltd.
By privatisation, it means the government loses its dorminant control or famous (50% shareholding.


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