Why we are Selling KICC – Government

Thursday, November 30, 2023 –Government now says the essence of handing over the key State corporations to the private sector is attributed to the revenues being collected from the organizations renting space from them.

Majority Leader Kimani Ichung’wah has told the Parliament that iconic mega structures like the Kenyatta International Conference Center KICC have been bringing so little in taxes and revenues and, therefore, a need to privatize them so that serious investors can utilise the space and improve on them for much more income for the country.

He cited Parliament as the key tenant at the KICC and which remits peanuts in form of lease money sometimes failing to pay hence the decision to hand over the premises to private sector which can turn it into a hotel that will not only employ but also bring a lot to the government for other development activities.

“I have seen in the media a lot of talk. It’s about being financially illiterate. I will not seek to broadcast anything in a studio but I am financially literate out here. Ignorance with the people is that they are not looking at the Privatization Act passed here recently and which is very clear on divesting.

“This will be done in various ways and there seems to be a lot of propaganda out there. 90 percent of KICC is Parliament paying peanuts because it’s a Government to Government,” Ichung’wah noted on the floor of the House.

He noted that the prime KICC building should, instead, be converted into a five-star hotel to generate a lot of income for the country.

The Kikuyu Member of Parliament said KICC has not been generating money to pay its own bills and, as of now, it owes Kenya Power and Lighting KPLC and the Nairobi County Government millions of monies which have to be paid.

He clarified that the privatization the government is talking about is leasing and not selling so that Kenyans can derive enough value from its assets unlike it is today.