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The truth about State-owned enterprises
The Act can fundamentally change public ownership by treating state-owned commercial entities more like accountable investment assets rather than administrative extensions of ministries.
A quarter of a century ago, I was a rookie relationship manager at Citibank Kenya. Together with my colleauges, we successfully convinced the finance team of Kenya Ports Authority to outsource the weekly cash payment to thousands of labour casuals to the bank.
This would take the headache away from the finance department for sourcing and holding cash weekly, hiring cashiers in the “payment hall” as well as reconciling payments made to the labour roll.
