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Article: Controversy clouds Kenya Airways sell off.
- Article from:
- African Business
- Article date:
- January 1, 1995
- Author:
CopyrightCOPYRIGHT 1995 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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After months of confusion and conflict Kenya Airways is at last moving closer to privatisation.
The Kenyan Government may have failed to privatise the national air line by the end of last year as promised, but at least the pattern to be used in allocating shares has finally been announced.
According to the chairman of Kenya Airways, Philip Ndegwa, former Governor of the Central Bank of Kenya, an as yet unidentified international airline will be allocated 30% cent of the shares. Kenyan institutional investors will take another 20%, airline staff will be allocated 10% and the general public will be allowed to take 35% which will be floated through the Nairobi ...