Approved Privatization Programme

Consolidated Bank of Kenya

To mobilize necessary resources to support the Bank’s future growth, support the growth and stability of the financial sector, enhance corporate governance and broaden shareholding.

Agrochemical and Food Corporation – ADC: 28.2% & KDC: 28.8%

To guarantee its continued existence and viability.

Kenya Wine Agencies – Kenya Development Corporation: 42.6%

To guarantee its continued existence and viability.

Chemelil Sugar Company – ADC: 96.21% & DBK: 1.42%

To meet Government – COMESA Sugar Safeguard commitment to privatize sugar companies. Will mobilize resources to support expansion and modernization programme for the company.

Development Bank of Kenya – KDC: 89.3%

To meet Government – COMESA Sugar Safeguard commitment to privatize sugar companies. Will mobilize resources to support expansion and modernization programme for the company.

Kenya Meat Commission – GOK: 100%

To meet Government – COMESA Sugar Safeguard commitment to privatize sugar companies. Will mobilize resources to support expansion and modernization programme for the company.

KDC Associated Companies:

Privatization proceeds will support the industry through additional loans and investments by TFC.

Kenya Safari Lodges and Hotels Limited

Mobilization of resources to rehabilitate and modernize existing facilities. Privatization proceeds will support the industry through additional loans by KDC. Recommended privatization method will also address the best option for ownership and management of hotels owned by KDC.

Sunset Hotel Limited

Mobilization of resources to rehabilitate and modernize existing facilities. Privatization proceeds will support the industry through additional loans by KDC.Recommended privatization method will also address the best option for ownership and management of hotels owned by KDC.

Miwani Sugar Company Ltd. (Under receivership) – GOK: 49%

To meet Government – COMESA Sugar Safeguard commitment to privatize sugar companies. Will address the excess debt and the financial and human resource needs of the company.

Nzoia Sugar Company – GOK: 97.93% & IDB Capital Limited: 0.94%

To meet Government – COMESA Sugar Safeguard commitment to privatize sugar companies. Will address the excess debt situation and mobilize resources to support expansion and modernization programme.

Golf Hotel Limited

Mobilization of resources to rehabilitate and modernize existing facilities. Privatization proceeds will also support the industry through additional loans by KDC. Recommended privatization method will also address the best option for ownership and management of hotels owned by KDC.

Mt Elgon Lodge Limited

Mobilization of resources to rehabilitate and modernize existing facilities. Privatization proceeds will also support the industry through additional loans by KDC.

Recommended privatization method will also address the best option for ownership and management of hotels owned by KDC.

Kabarnet Hotel

To meet Government – COMESA Sugar Safeguard commitment to privatize sugar companies. Will raise funds for the rehabilitation of the mill

Muhoroni Sugar Company Ltd. (Under receivership) – ADC: 16.9% & Development Bank of Kenya: 0.3%

To meet Government – COMESA Sugar Safeguard commitment to privatize sugar companies. Will raise funds for the rehabilitation of the mill

South Nyanza Sugar Company Limited – GOK: 98.8%, KDC: 0.7% & IDB: 0.3%

To meet Government – COMESA Sugar Safeguard commitment to privatize sugar companies. Will raise funds for the rehabilitation of the mill