- In December, President William Ruto clarified that his government is not planning to sell KICC but rather the strategy is to commercialise it.
- Ruto said KICC should not be treated as just a photography destination as it gobbles up public funds.
Image: FILE
Government Spokesman Isaac Mwaura has said the government will not sell the Kenyatta International Convention Centre.
The 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.
Speaking on Thursday, Mwaura said privatisation of a company does not mean selling it.
He said that the government will enter into a contract with an investor for some time to benefit the country.
"If you want to privatise an entity, you cannot do it when it is dilapidated in condition. Privatisation is not selling, it has to do with someone coming on board, investing their money for a given period, getting some percentage of ownership in terms of that period and then after that, it can be reviewed," he said.
He said the country will maximise the potential and value of the convention centre.
"We will not just be using this place for offices but will also use it for investment and to get money from hotels. We will also have a new hotel from this premises so that when many people come here, you can revive Hilton, interCon so that people can make money," he added.
"Privatisation is about getting a solid investor who comes in and does what they need to do to make money for themselves and also for the country and then they can move on."
In December, President William Ruto clarified that his government is not planning to sell KICC but rather the strategy is to commercialise it.
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 commercialising 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 centre to be bringing Sh300 billion a year?"Ruto posed.
State parastatals listed for privatisation include Kenya Literature Bureau, National Oil Corporation, Kenya Seed Company Limited, Mwea Rice Mills, Western Kenya Rice Mills Limited, Kenya Pipeline Company and New Kenya Cooperative Creameries.
Others are the Kenya Vehicle Manufacturers Limited, Rivatex East Africa Limited and Numerical Machining Complex.