FACTBOX-Kenya's privatisation plans

Mon Jun 29, 2009 10:32am EDT
 
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June 29 (Reuters) - Kenya said on Monday it was ready to sell shares in Consolidated Bank, an 11-branch local institution that reported a 97 million shillings ($1.26 million) pretax profit last year. [ID:nLT725864]

The east African country plans to privatise its stake in over 26 companies through strategic partnerships or share issues. Following are details:

* CONSOLIDATED BANK - 50.2 percent owned by the government's Deposit Protection Fund and the rest by 25 state agencies.

* NATIONAL BANK OF KENYA (NBK.NR) - government has a 22.5 percent stake and a further 48 percent through the state-owned National Social Security Fund (NSSF). Bank's 2008 pretax profit rose 12 percent to 1.8 billion shillings.

* KENYA WINE AGENCIES - wine and spirits marketer. Centum Investment (ICDC.NR) holds 72.6 percent.

* KENYA ELECTRICITY GENERATING COMPANY (KenGen) (KEGN.NR) - Kenya's biggest power producer. The government has said it will offload 19 percent after it sold a 30 percent stake in 2006. KenGen posted a 65 percent drop in pretax profit to 1.63 billion shillings in the year to June 2008. [ID:nLF74755] [ID:nL3251329]

* KENYA PORTS AUTHORITY - overseas operations at Mombasa port, the main gateway into countries such as Uganda, Burundi, Rwanda, southern Sudan and eastern Democratic Republic of Congo. The government said it would seek private sector participation in the construction of an inland container terminal at Eldoret. [ID:nL9372281] [ID:nLK112124]

* KENYA PIPELINE COMPANY (KPC) - operates the only oil pipeline linking the port to the capital, Nairobi. KPC's revenues in the year to June 2008 dropped to 8.3 billion shillings from 8.8 billion a year earlier. [ID:nLQ128587]

* SUGAR - five companies will be privatised -- Chemelil, Miwani (49 percent), Muhoroni (17.2 percent), Nzoia (97.9 percent), and Sony (98.8 percent). Miwani and Muhoroni are under receivership. Media reports say Kenya, which has an annual sugar deficit of about 200,000 tonnes, may want strategic partners.  Continued...