Friday, February 9, 2024 - The Kenyatta International Convention Centre (KICC) has put President William Ruto to shame and complicated his nefarious plans to sell the facility.
This is after it generated a whopping Ksh1.07 billion in revenue between July to December 2023 amid privatization plans.
In a statement, Tourism Cabinet Secretary Alfred Mutua noted that the revenue generated in the six months was monumental given that KICC had a set target of Ksh500 million for the same period.
Mutua made the revelation after convening a board meeting to discuss the financial status of the entity and its management operations.
Notably, the revenue generated was credited to the numerous conferences held at the facility within six months.
Notably, President William Ruto hosted the African Climate Summit at the venue between September 3-6, 2023.
The event was attended by over 10,000 international delegates including presidents and heads of government.
Additionally, KICC also generated rent given that several lawmakers have offices at the 105-meter-high building.
On the other hand, Mutua indicated that the government had earmarked a strategic partner who would be onboarded to help revamp its operations.
However, the CS did not explain if the strategic partner was part of the government's privatisation plan.
KICC was among the government corporations that were listed for privatization by the Treasury in 2023.
At the time, the Treasury explained that privatisation would make it competitive and reduce its reliance on the government for funding through the exchequer.
However, there was an uproar among Kenyans over the privatisation plans given that KICC is a national monument.
Ruto had alleged that KICC makes a paltry Ksh29 million a year and that’s why he wants to sell.
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