2016 Budget Statement
45. Mr. Speaker, regarding strategic Government investments that have faced challenges recently, allow me to report as follows:
i. We are working to ensure Kenya Airways turns around its financial position and is able to play its role in our economy especially as a key asset supporting our tourism and transport sectors;
ii. On Telkom, I am happy to report that significant progress has been made in which Orange East Africa will sell its shares to a strategic investor. Through this transaction, Mr. Speaker, GOK will increase its shareholding from the current 30% to 40%. We expect the new investors to turn around the fortunes of the company so that it can be a sustainable business capable of competing effectively in the telecommunications sector; finally
iii. The Government recognises the importance of a financially strong Mumias Sugar Company to the economy of Western Kenya. Consequently, the Government allocated Ksh 2.0 billion in this financial year in order to support the revival of the company and we believe we have now laid a strong foundation for its recovery.
“You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham