Kenyans want affordable shares in privatisation of parastatals, MPs say

Parliamentary Departmental Committee on Finance and National Planning members David Mwalika and George Sunkuyia addressing the press at Machakos University on August 20, 2025.

Concerns over inclusivity have emerged as Parliament pushes ahead with the Privatisation Bill, 2025, with members of the public calling for affordable access to shares once state-owned companies are put up for sale.

Kitui Rural MP David Mwalika, a member of the National Assembly’s Finance and National Planning Committee, said Kenyans want an opportunity to participate directly in the process.

He spoke in Machakos on Wednesday after a public hearing on the bill, which was attended by committee members and local administrators.

“Some Kenyans have raised issues on how the shares are going to be sold, stating that they also want to participate in buying parastatals once the government announces their privatisation,” Mwalika said.

He added that citizens proposed low entry levels for investment, with suggestions that shares be priced from as little as Sh10 or Sh100.

“That way, even someone with Sh1,000 can take part. It’s a good thing because if many people are involved, the lowest of the low can afford shares,” he noted.

The Privatization Bill, 2025 (National Assembly Bill No. 36 of 2025), seeks to repeal the 2005 Privatization Act and align the framework with the Constitution of Kenya 2010.

The Bill proposes the creation of a Privatisation Authority to oversee the sale of public entities, from planning to the publication of notices.

According to Mwalika, the committee has been holding public hearings across Lower Eastern, having already covered Kitui and Makueni, with Kajiado set to follow on Friday.

Nationally, views are being collected in 24 counties by six parliamentary teams.

He said the public generally supports the privatization of non-performing parastatals, many of which are a drain on the exchequer.

“They said valuation should be conducted professionally so that taxpayers get value for their money,” he explained.

Participants also raised concerns about mismanagement, calling for accountability from officials who run down state corporations.

“They said the people who mismanage parastatals should be held responsible. They should pay back the money they unlawfully took,” Mwalika added.

The MP said the government’s push to sell parastatals is driven by a need to raise revenue for the national budget, address mismanagement, and improve efficiency.

“As we talk now, we aren’t in good financial status as a country. If managed efficiently, these parastatals could help reduce unemployment among Kenyan youth. But if the economy isn’t expanding, there’s no way more people can be employed,” he said.