KENYA ONLINE Kenya Clings to Control of State Firms With Stake Sales on Table 4 weeks ago Iwo Bulski Post Views: 84 The Kenyan government signaled caution on relinquishing more control over companies part-owned by the state including Safaricom Plc, the nation’s biggest firm by market value. The Nairobi Securities Exchange has said it’s in talks with officials over the sale of additional stakes in already publicly traded state companies, a program expected to raise as much as 300 billion shillings ($2.8 billion). But any such decision over Safaricom is only possible if matched by other key shareholders, Stanley Kamau, acting director general of public investments and portfolio management at the National Treasury, was cited as saying by NTV. The Kenyan government and U.K. carrier Vodafone Group Plc — along with its South African unit Vodacom Group Ltd. — each hold 35% in the mobile-banking pioneer that accounts for almost two-thirds of the Nairobi market’s capitalization. “Given the strategic and security issues around Safaricom, we would not want to go below Vodafone,” – Nairobi-based NTV quoted Kamau as saying. “If Vodafone is willing to go 10%, we can go 10%,” Kamau said. “But I don’t think we’d want to get diluted as the government on Safaricom.” A decision to attach conditions to possible divestments represents a pushback by Kenya’s government over losing sway over companies that contribute the biggest dividends to state coffers. While the state is open to slashing its stake in the nation’s biggest power producer — Kenya Electricity Generating Co. — to 60% or close to half from 70% currently, it doesn’t intend to become a minority shareholder in the loss-making Kenya Power and Lighting Co., according to Kamau. “Given the strategic nature and monopolistic tendency of KPLC, I’m not sure we would want to move away from 50% and move to about 45%, where the government loses control on a monopoly,” – Kamau said. The government won’t privatize Kenya Pipeline Corp., which manages fuel distribution from the port city of Mombasa to the rest of the country and four neighboring countries including Uganda, Rwanda, Burundi and the Democratic Republic of Congo. Source: Bloomberg Iwo BulskiIssues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. Facebook Twitter LinkedIn Email Print Tags: Kenya, Safaricom, Vodafone Continue Reading Previous West African Countries join force to provide affordable InternetNext What are the safety measures to take on before gambling online? More Stories ONLINE WORLD NEWS Pronet Gaming pens TENLOT deal 5 days ago Samuel ONLINE SOUTH AFRICA Online Poker Sites South Africa 5 days ago Samuel EXPERTS KENYA The global challenges facing young people 6 days ago Samuel ONLINE WORLD NEWS Pronet Gaming Shortlisted at EGR B2B Awards 2021! 6 days ago Iwo Bulski BETTING KENYA Double delight as Eldoret man wins Sh333,542 from Sh500 stake 1 week ago Iwo Bulski GAMES ONLINE Primal Hunt from Betsoft 1 week ago Iwo Bulski ONLINE WORLD NEWS Playtech signs deal to work with Dutch state-owned Holland Casino 1 week ago Iwo Bulski ONLINE WORLD NEWS Wazdan shortlisted for three categories at prestigious EGR B2B Awards 2021 1 week ago Iwo Bulski ONLINE WORLD NEWS TVBET is in shortlisted at EGR B2B Awards 2021 in 4 nominations 1 week ago Iwo Bulski GAMES ONLINE Pragmatic Play launches new slot 1 week ago Iwo Bulski EXPERTS ONLINE In Africa, Slotegrator is looking for new prospects 2 weeks ago Samuel ONLINE UGANDA How to register and bet on 1xBet Uganda 2 weeks ago Iwo Bulski Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment. This site uses Akismet to reduce spam. Learn how your comment data is processed.