Kindiki defends sale of stake in government agencies to fund major infrastructure projects

"We are at the tail end now of operationalizing the NIF. The law is in place and we have seed money which is already with us for that Fund over Sh100 billion from the sale of the stake in Kenya Pipeline and another Sh245 billion from the sale of the stake in Safaricom and we are ..

✨ Key Highlights

Deputy President Kithure Kindiki has defended the sale of stakes in government agencies to raise funds for crucial infrastructure projects, aiming to accelerate the country's socio-economic transformation.

Over Sh100 billion has been raised from the sale of stakes in Kenya Pipeline and another Sh245 billion from Safaricom.
The funds will be channeled into the National Infrastructure Fund, designed to be a key driver for improving infrastructure.
The Deputy President emphasized the importance of transforming the agriculture and manufacturing sectors, with water infrastructure being central to this endeavor.

Continue Reading

Read the complete article from Capital News

📰 Read Full Article

Related News

top4h ago

Goons Block Thika Road at Pangani, Rob Motorists

Thika Road was significantly disrupted on Friday morning when protesting youths blocked sections near Pangani and Muthaiga. The demonstration led to traffic gridlock and motorists reporting robbery attempts.

Kenyans

📰 Read Full Story

9h ago

State flags falling telcos' service quality

The Kenyan government has issued a stern warning to telecommunication companies over a decline in service quality. Some firms are reportedly nearing breaches of their licensing agreements, potentially disrupting access to essential services for citizens.

The Standard Business

📰 Read Full Story