Kenya: President Ruto Meets Parastatal Heads Over Planned Budget Cuts

Capital FM
President William Ruto.
26 March 2024
Capital FM (Nairobi)
By Correspondent

Nairobi — President William Ruto is currently hosting Parastatal Heads and Chief Executive Officers (CEO) at State House, Nairobi.

State House Communications team stated that budget cuts and planned privatization of some institutions top agenda.

President Ruto plans to sell at least 10 non-performing parastatals in a bid to help improve the upgrade of infrastructure and the delivery of services to Kenyans.

He promised to rejuvenate the Nairobi Securities Exchange by bringing to the bourse through initial public offerings between six and 10 companies, a target that if met would see him surpass the record set by former President Mwai Kibaki's administration.

The Cabinet last month approved the sale of seven more State-owned enterprises which is expected to stimulate the expansion of the country's hospitality industry and grow individual units through private-sector investment.

About The Author

CORRESPONDENT

See author's posts

Read the original article on Capital FM.

Tagged:
Copyright © 2024 Capital FM. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.