The Kenyatta International Convention Centre (KICC) is among 11 state corporations the government has lined up for privatisation.
KICC, an iconic landmark is wholly owned by the government and was established by Tourism Act, 2011.
The convention centre boasts of being the leading facility in the meetings industry in East Africa and has held a number of regional and international conferences.
The government indicated that KICC is “required to be incorporated into a limited company.”
Other corporations to be sold are Kenya Literature Bureau, National Oil Corporation, Kenya Seed Company Limited, Mwea Rice Mills, Western Kenya Rice Mills Limited, Kenya Pipeline Company, New Kenya Cooperative Creameries, Kenya Vehicle Manufacturers Limited, Rivatex East Africa Limited and Numerical Machining Complex.
The government revealed that one of the reasons it was selling the Kenya Literature Bureau and KICC was because the two parastatals needed to be incorporated into limited companies.
On the other hand, National Oil Company is being privatised largely because of poor financial performance.
The government is also looking to dispense with the corporation because of negative working capital and low liquidity.
