Ruto: We won’t sell KICC, the plan is to commercialize it
President William Ruto has clarified that his government is not planning to sell the iconic Kenyatta International Convention Centre (KICC) but rather the strategy is to commercialize it.
Speaking at State House Sunday night, Ruto said KICC should not be treated as just a photography destination as it gobbles up public funds.
He cited mismanagement as the core reason investments into the running of the building were not having returns.
“KICC today is valued at Sh30 billion, but we got Sh30 million the last financial year…It is mismanaged,” Ruto said during a round table with the media.
The Head of State highlighted that commercializing KICC will bring more money to the government.
“Instead of having KICC as an office block for people who don’t pay rent, why don’t we transform it into an international conference center to be bringing Sh300 billion a year?”Ruto posed.
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He said that even the Bomas of Kenya will have to be handed to a strategic investor for it to have returns on investment.
Early this month, the Kenya Kwanza government said it plans to sell 11 state agencies, including the KICC and the cash-rich National Oil and Kenya Pipeline Company.
However, the High Court suspended the plans following a case filed by the Orange Democratic Movement Party.
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.
“A conservatory order is hereby issued suspending the implementation of section 21 (1) of the Privatization Act 2023 or any decisions made pursuant to that section, until 6th February 2024,” reads the order granted by the Judge.
Ruto: We won’t sell KICC, the plan is to commercialize it