Kenya Passes New Privatization Law, Looks to Sell Over 100 State Firms to Boost Economy
• Kenya recently passed a revised privatization bill and is looking to privatize 35 state-owned companies initially, with 100 more under consideration • The new law aims to reduce bureaucracy and increase private sector participation in the economy • Kenya last privatized a state-owned company in 2008 when it partially privatized Safaricom • Kenya faces challenges like depleted government funds, high inflation, and debt repayment costs • International institutions like the IMF and World Bank are providing Kenya with loans and billions in financial support