National Treasury Cabinet Secretary Prof. Njuguna Ndung’u is calling on state agencies to properly coordinate their assets to help maximize returns and minimize losses to unlock the full potential of state investments.
Despite the government’s investment of Ksh 5.7 trillion in state enterprises, the return on investment stands at a mere 0.13pc.
The government is now considering dissolution of up to 140 state-owned enterprises in an intensified push for better returns on investments.
Prof. Njuguna says with pending bills from these entities accounting for a staggering 83.1pc, there is need for state corporations to be accountable to ensure public assets work to benefit Kenyans.
This emerged during the handover of a Ksh 5 billion interim dividend cheque by Kenya Pipeline Company (KPC) to the National Treasury following a 21pc surge in KPC’s profitability to Ksh 7.6 billion in the 2022/2023 financial year, up from Ksh 6.3 billion the previous year.
Trevor Ng’endo
