A court has suspended the privatisation of 11 state-owned companies in Kenya, including the national oil and gas company, following an appeal by the main opposition party, a court source said on Tuesday. The sale process has therefore been suspended until 6 February, when the case will be examined on its merits. On November 27, the Kenyan government announced the sale of stakes in 11 public companies in order to replenish the state coffers, at a time when tax revenues are falling short of its targets. The 11 companies, including the national oil and gas company and one of its operators, agricultural enterprises and a publishing house, are among the 35 that President William Ruto announced last week that he wanted to privatise. Since Kenya passed a privatisation law in 2005, only six public companies have been partially sold, including the largest telecommunications operator Safaricom and electricity producer KenGen.

Source: Ethiopian News December 05, 2023 11:50 UTC