Hon Gathoni Wamuchomba has said, following the passage of the Finance Bill 2024, the Privatization Act 2023 was the worst mistake made by the legislature.
This measure made it easier for the Executive to embezzle funds intended for Kenyan citizens. Now let's pose these queries. (In addition, the Act prohibited Kenyans from posing certain queries.)
Of the list that was first shared, how many parastatals have been privatized thus far? What was the profit from each? Where is the cash from the sale?
Who made the asset purchase? How much time have they been privatized? Have they improved after being privatized? Was there any public involvement?
By passing this act, Parliament diminished its authority to look for these kinds of solutions. It is time to repeal this Act.
As a country, we need to do a massive divestiture not only to pay off debts but to ensure enterprises ran efficiently, I doubt public participation is necessary, why not follow the mould of the kibaki era, two hugely successful IPOs~ kengen and safaricom.
They are sucking the nation. Poor governance. I thought but my thinking might be wrong why loot money meant for the country. To what extent do they wanna become rich. Will they not come to pass. We will get our money back not today but soon.
Privatization of government entities is one of the main recommendations. That's one of the condition you have to meet before getting a loan from the IMF or World Bank
Proper audit needs to be done, why not get somebody to do that. "Act barred Kenyans from asking some of these questions", what? Did they tell Kenyans to be patient as they were selling to themselves? Were some in parliament hoodwinked to pass something they hadn't understood?
This is the level of "helplessness" that is/was being experienced in parliament by some honourable mps and now they have the backing of the citizens which has given them voices as initially intended. We need to back them up all the way. The country will be fixed.
LINK: https://twitter.com/hon_wamuchomba/status/1809112154198388843