President William Ruto’s October 2022 promise to privatise between six and 10 State-owned firms within a year is yet to bear fruit, held up by ongoing legislative changes to the Privatisation Act and lack of budgetary support.
The President’s plan was seen as a key step in reviving the fortunes of the Nairobi Securities Exchange (NSE), which has suffered due to a drought of big initial public offerings (IPOs) that has now gone into a second decade.
