It is a Waste Because it is Being Managed Inefficiently ~ President William Ruto On Why He Plans to Privatize KICC

Kenyan President William Samoei Ruto has issued an explanation of why he had proposed to privatize KICC and the other 10 state corporations.

The President said on Sunday that the Kenya International Conference Centre (KICC) that’s in Nairobi is valued at 30 billion Ksh but makes less than 30 million a year, which is 29 million.

What even makes him want to reconsider transforming KICC is the fact that he had actually spent 1.8 billion Ksh to make it usable for the Africa Climate Summit.

“KICC today is valued at 30 billion Ksh. How much money are we getting from KICC? Last year, we got 29 million Ksh. The other year, I think we got 40 million per month. What a waste! Because it is being managed inefficiently.

I had to put 1.8 billion Ksh to make it usable for the Africa Climate Summit.” President Ruto shared.

He proposed that KICC should be transformed into the international conference center that it is supposed to be, hinting that at least the country should be getting 3 billion ksh a year, but it is getting 29 million.

Adding that it is an asset to Kenya, it should be bringing in more.

President Ruto went on to explain the reason for wanting to privatize KICC.

“The intention is to commercialize, have a mechanism, and have a strategic investor so that we make it a true conference facility so that it gives us more than 3 billion shillings a year; today we are getting 29 million.” President Ruto explained.

He concluded by urging the public to allow him to transform the facility and make it work, adding that the reason that KICC is underperforming is because international conference facilities have been closed because they are the ones that support the tourism sector, the convention sector, and the hotel sector.

“Let me persuade the people of Kenya. KICC is not being sold to anybody; it is not being taken anywhere. Those who want to take photographs can continue doing so. But please allow me to get a strategic investor; I am not going to do it overnight.” President Ruto clarified the status of the KICC.