Privatisation of Kenya Wine Agencies Limited (KWAL) has today proved to be the best decision ever made, in running an entity. According to KWAL Managing Director Ms Linah Githuka, privatising the entity came in handy, a move that helped improve its operations. Ms Githuka said KWAL is less bureaucratic and the decision-making process is shorter. She also pointed out that employees have an upper hand – matters decision making. “They are involved in every stage, engaged at different levels and their suggestions taken into considerations”. She has also indicated that the volume output doubled and the bottom line improved significantly, after privatization. In August 2014, the Privatization Commission finalized the sale of 26 per cent stake held by ICDC in the Kenyan wine and spirits firm KWAL through its holding company KWA Holdings E. A. Limited (KHEAL), to Distell Group, Africa’s leading producer of wines, spirits and brandies.
KCB offered an IPO in 1988 that saw the sale of 20 per cent of the Government’s shares in the Company. In 1989, the bank saw a 41.5% increase in pre-tax profits amounting to Sh375 million and contributed Sh260 million in taxes and dividends to the Exchequer while deposits reached Sh13.9 billion. The Government further reduced its shareholding to 17.31 percent in the rights issue of 2010. As of June 2023, the Government shareholding in KCB stands at 19.76% per cent, representing 635,001,947 shares. KCB Group Plc is a registered non-operating holding company that oversees KCB Bank Kenya, National Bank of Kenya and all the regional subsidiaries. It also owns KCB Bancassurance Intermediary limited, KCB Investment Bank, KCB Asset Management, KCB Foundation and other associate companies. The Group has an asset base of KShs 1.86 trillion, the largest branch network in the region with 605 branches, 1,315 ATMs, 30,153 POS/Merchants and agents offering banking services on a 24/7 basis in East Africa.
Kenya Reinsurance Corporation Limited (Kenya Re) is the oldest Reinsurer in Eastern and Central Africa. It was established through an Act of Parliament in December 1970 and commenced business in January 1971. Kenya Re’s core activity is providing reinsurance services for most classes of business. Since its inception, Kenya Re has progressively and consistently continued to provide reinsurance services to more than 482 companies spread out in over 83 countries in Africa, Middle East and Asia. The numbers of shares are 600,000,000. The Kenya Government has the majority shareholding of 360, 000,000 (60%) while the remainder (40%) 240,000,000 is held by the public. The Government sold 40 per cent of its shareholding in 2007, through an IPO.
Safaricom was founded in 1997 as a fully owned subsidiary of Telkom Kenya before a 40 percent acquisition by Vodafone Group PLC in May 2000, and a public offering of 25 percent shares through the Nairobi Securities Exchange in 2008.Safaricom is the leading telecommunication company in East Africa, keeping over 42 million customers connected and playing a critical role in the society, supporting over one million jobs both directly and indirectly.