Functions Of Kenya Privatization Commission
The Privatization Commission is established as a corporate body under the Privatization Act, 2005. The mandate of the Commission is to formulate, manage and implement Kenya’s Privatization Programme. The Programme consists of the list of investments and assets approved for privatization under the Privatization Act. In this article, we shall look at the duties and responsibilities of Privatization Commission and how you can contact the commission.
How The Commission Works
The Privatization Commission is a government body responsible for the privatization of state-owned enterprises and assets in a country. Its main objective is to reduce the role of the government in the economy and promote private sector development by transferring ownership and management of state-owned enterprises to private investors.
The commission typically works under the guidance of the government and follows a structured process to identify state-owned assets that can be privatized, assess their value, and prepare them for sale to private investors. This process may involve conducting due diligence on the assets, preparing financial statements, and developing a marketing strategy to attract potential investors.
Once the assets are ready for sale, the commission may use a variety of methods to sell them, including public auctions, public offerings, and private negotiations. The proceeds from the sales are often used to fund government programs or reduce the national debt.
The success of a privatization program can depend on many factors, including the quality of the assets being sold, the attractiveness of the investment opportunities, and the effectiveness of the marketing strategy. The commission plays an important role in ensuring that the privatization process is transparent, fair, and equitable, and that the interests of all stakeholders are protected.
Functions of Privatization Commission
The Privatization Commission of Kenya is a government body responsible for managing the privatization of state-owned enterprises in Kenya. Some of the main functions of the Privatization Commission of Kenya include:
- Identifying state-owned assets for privatization: The Commission is responsible for identifying state-owned enterprises that can be privatized and for assessing their suitability for sale to private investors.
- Valuation of assets: The Commission is responsible for valuing the state-owned assets to be privatized to determine their fair market value.
- Developing and implementing privatization policies: The Commission is responsible for developing and implementing policies and procedures for the privatization process in Kenya.
- Advising the government on privatization matters: The Commission advises the government on privatization matters and provides recommendations on the most appropriate method of privatization for each asset.
- Managing the privatization process: The Commission is responsible for managing the privatization process, including preparing the assets for sale, marketing the assets to potential investors, and overseeing the sale process.
- Ensuring transparency and accountability: The Commission ensures that the privatization process is transparent, fair, and accountable to all stakeholders.
- Monitoring the performance of privatized entities: The Commission monitors the performance of privatized entities to ensure that they are operating efficiently and effectively.
- Managing the privatization proceeds: The Commission manages the proceeds from privatization sales and ensures that they are used appropriately to benefit the Kenyan people.
Privatization Commission Contacts
Location:10th Floor Social Security House – Annex (Parking Silo)
P.O. Box 34542-00100 NAIROBI.
Tel: 020 8696 800
E-Mail address:info@pc.go.ke
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