The era of State corporations is gone; go ahead and sell them

Water fountain around Mzee Jomo Kenyatta monument outside KICC and Parliament Buildings during the African Climate Summit on September 06, 2023. [Stafford Ondego, Standard]

My neighbour has had three cows that do not produce milk, but he has employed a herdsboy whom he pays Sh8,000 monthly. Each of the three cows is worth about Sh20,000. Last year, two of the cows gave birth, so there are now five cows. Even if we value each cow still at Sh20,000, the total wealth in that home is Sh100,000.

However, he does not realise that he pumped Sh96,000 (8000x12) to cater for his Sh100,000 wealth. Asked to sell the cows, he said he needed the cows at home as a sign of wealth and pride. Call him irrational, but that's what Kenyans are thinking when it comes to privatisation of State-owned corporations.

The President's interview early this week rekindled the debate on the government's plan to privatise 350 corporations. Even after Dr Ruto gave a breakdown of how taxpayers lose billions of shillings funding the corporations, the math still doesn't make sense to most Kenyans.