President William Ruto clarified that the Kenyatta International Convention Centre (KICC) is not being sold but will undergo a commercialization process. In a joint interview on Sunday, December 17, he expressed the desire to transform KICC into a revenue-generating entity.
Ruto emphasized, “I want to change KICC so that it makes money. KICC is not being sold to anybody; those who want to take photographs can continue. Allow me to get a strategic investor.” He revealed that KICC is valued at Sh30 billion, but its earnings last year were only Sh29 million, while it has the potential to make Sh3 billion based on its valuation.
Acknowledging the sentimental value of KICC as an iconic building in the city center, Ruto explained, “When I came first to Nairobi, I came to that photograph place where we are holding KICC at the top. KICC was not built for photographs. It was built as a national asset.” He criticized its inefficient management, citing last year’s meager earnings of Sh29 million and the need for privatization.
KICC is one of eleven government parastatals slated for privatization by Ruto’s administration, including the Kenya Literature Bureau (KLB), National Oil Corporation (NOC), Kenya Seed Company Ltd, Mwea Rice Mills, and Western Kenya Rice Mills Ltd. Other entities on the list are the Kenya Pipeline Company, New Kenya Cooperative Creameries, Kenya Vehicle Manufacturers Ltd, Rivatex East Africa Ltd, and Numerical Machining Complex.
