KICC Makes Over 1B in Five Months

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Chrispen

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Thursday, February 8, 2024 –Amid a scheme by the State to privatize the iconic Kenyatta International Convention Centre KICC, it has been confirmed that it generated sh 1.07 billion heading December 2023.

The said revenue, according a report confirmed and shared by Tourism Ministry, was fetched between the months of July and December 2023.

Tourism Cabinet Secretary Dr. Alfred Mutua, on Thursday February 8, during their board meeting, noted that KICC had a set target of sh 500 million which was comfortably surpassed.

The meeting focused its discussion on the better way to make improvements to make KICC viable again.

Clarifying why the facility managed to make such huge monies, Mutua found out that it was because of the many conferences held there, of recent.

For instance, apart from rents generated from MPs offices which are housed there, the African Climate Summit was orgainsed at the venue last year in September and which saw over 10,000 delegates, both local and international, attend for three consecutive days.

“Led by Chairperson Adelina Mwau, the board shared insights into their ongoing efforts to develop a new marketing plan aimed at positioning KICC as the premier destination for conferences and exhibitions within the region,” read the report by the CS.

The CS announced a good fresh start this 2024 saying the venue was now making profits surpassing expected figures.

“Impressively, KICC Kenya has set ambitious revenue targets and has already surpassed expectations, boasting an improved performance of Ksh1.07 billion between July and December 2023, against a target of Ksh545 million,” Mr. Mutua stated further.

Speaking on privatization confusion, the CS clarified that a partner had been identified to help in revamping the facility to make even more money for the country.

“I announced plans to reconvene with the board next week to delve into the process of onboarding a strategic partner. This partner will play a pivotal role in revitalising KICC, infusing capital, and elevating it into a world-class facility poised for even greater success,” said Mutua.

He fell short of declaring that the said partner was part of the key strategy to privatise the facility.

Kenya Kwanza government has plans to put the facility, among others, into private hands , arguing that most of the State-owned facilities are currently wasted.