Prime Cabinet Secretary Musalia Mudavadi went hard defending Kenya's privatization push at the diaspora investment strategy launch in Nairobi, and he basically told everyone to stop freaking out about selling off state companies. The guy pointed at Safaricom as proof that letting private players into telecom turned a money-losing government monopoly into a beast that now invests the most private capital in Ethiopia. Kenya only holds around 33 percent of Safaricom anyway, and offloading part of that stake gives regular citizens more ownership through the stock exchange while raising development cash.
Mudavadi clapped back at conspiracy theories by citing Kenya Commercial Bank, which went from full government control with blue number plates to becoming one of East Africa's biggest banks after the state cut its share down. He thinks politicians yelling about selling the silverware are missing the point because poorly managed assets sitting in government hands lose value like roses rotting on trash heaps. The government wants to privatize 11 enterprises, and Mudavadi says he would push even harder on the agenda if it were up to him.
Mudavadi clapped back at conspiracy theories by citing Kenya Commercial Bank, which went from full government control with blue number plates to becoming one of East Africa's biggest banks after the state cut its share down. He thinks politicians yelling about selling the silverware are missing the point because poorly managed assets sitting in government hands lose value like roses rotting on trash heaps. The government wants to privatize 11 enterprises, and Mudavadi says he would push even harder on the agenda if it were up to him.
