Search

Kenya to Merge and Divest State Corporations in IMF-Backed Restructuring

Kenyan President William Ruto (L) and Major General Fatuma Gaiti Ahmed (R) the commander of the Kenya Air Force. ©SOPA Images Limited / Alamy Stock Photo
  • Kenya to merge 42 state corporations and dissolve or divest 25 entities as part of fiscal reforms.
  • The move targets reducing inefficiencies and addressing Ksh94.4 billion ($728.9 million) in pending bills.

Nairobi, Kenya – Kenya is embarking on a sweeping reform of its state corporations, merging 42 entities into 20 and either dissolving or divesting 25 others in a bid to address financial inefficiencies and fiscal constraints. This marks the final phase of restructuring backed by the International Monetary Fund (IMF) under a 48-month loan program set to conclude in April 2025.

You need an active subscription to continue reading this article.

 

Recent Business

arvind-vallabh-rqWWhKzVCaU-unsplash
Gabon ramps up deepwater push to reverse oil decline
Read More »
kurt-cotoaga-FWTN3Uquq20-unsplash
Senegal raises $346m in latest WAMU debt auction
Read More »
Allen dreyfus Logo
Cote d’Ivoire awards new gold exploration permits
Read More »

Recent Politics

james-wiseman-IebZAH6kaNw-unsplash
Trump pushes trade-first Africa strategy to counter rivals
Read More »
Allen dreyfus Logo
Elombi steps into Afreximbank leadership amid mounting regional debt pressure
Read More »
edouard-tamba-oTrwlvPvpVo-unsplash
Northern defections rattle Biya’s rule ahead of Cameroon’s October election
Read More »

Latest Posts

Latest news insights