Privatization

News : Privatization

There has been a new twist in the control and ownership of the long anticipated Eldoret-Kampala oil pipeline, with sources confirming to The EastAfrican that contrary to the original plan, Uganda will now only take half of 24.5 per cent stake it was supposed to take in the venture. (AllAfrica)

The NPP administration's controversial decision to offload 70% shares of Ghana Telecom assets to Voadafone, continues to elicit scathing attacks from Ghanaians of all walks of life. (AllAfrica)

The Kenyan government plans to reclaim ownership of the cash-strapped Kenya Tea Development Authority (KTDA) a few years after its privatisation. (AllAfrica)

Ghana Telecom's 1.4 million mobile customers represent just over 0.5 percent of Vodafone's global subscriber base of 260 million. How strategic is that for Vodafone? (AllAfrica)

FINANCE state minister Kulany Chekamondo stunned MPs on Thursday when she failed to explain the divesture policy on government houses. (AllAfrica)

The Flag bearer of the Convention People's Party (CPP), Dr. Paa Kwesi Nduom has kicked against government's decision to sell Ghana Telecom (GT) to Vodafone International Holding at the cost of $900 million. (AllAfrica)

The privatisation of Safaricom may have put the Kenyan capital market on the world map, but this close attention by global hedge funds and security traders is coming at a heavy price. (AllAfrica)

As G8 leaders wrapped up their forum in Hokkaido in Japan, some 13,000km away, the hundreds of people who had gathered for the seventh annual alternative People's Forum, this year held in the town of Koulikoro, Mali, were issuing a closing statement to their own conference, and its tone was defiant. (AllAfrica)

The privatisation of the National Development Bank (NDB) gathered momentum this week when government announced that the Nedbank Capital of South Africa has won the tender to develop a strategy for the transaction. (AllAfrica)

THE VOTE OF NO CONFIDENCE BY KENYA'S PARliament in Finance Minister Amos Kimunya last week brought to the fore fundamental issues on public procurement and privatisation. (AllAfrica)

The Bureau of Public Enterprises (BPE) said yesterday that gains of the privatisation programme could be stifled without the passage of nine outstanding reform bills into law. (AllAfrica)

THE long-awaited sale of the Government's 40% stake in the National Insurance Corporation (NIC) on the stock exchange is expected to be finalised by August, the Privatisation Unit's public relations officer, Jim Mugunga, has said. (AllAfrica)

THE MINORITY in Parliament has questioned the supposed confidentiality, lack of openness and transparency with which government is conducting negotiations regarding the privatization and sale of majority shares in Ghana Telecom (GT), between the Government of Ghana (GOG) and Vodafone plc. UK. (AllAfrica)

Information reaching The Chronicle indicates that global telecom giant Vodafone is close to buying a majority stake in Ghana Telecom (GT) for just over One Billion Ghana Cedis (GH¢1 billion), which is just under $1bn (£480m). (AllAfrica)

Continued and persistent advocacy from the financial sector may see the expedited opening of the pensions sector before the end of 2008, officials have indicated. (AllAfrica)

Kenyans expressed outrage on Friday over revelations that the five-star Grand Regency Hotel had been sold in a secret deal that may have cost taxpayers Sh5.5 billion. (AllAfrica)

The Competition Commission will be set up in December, according to the budget. How will this affect the average citizen? (AllAfrica)

The Federal Government should halt the privatisation of the power sector until necessary repairs are carried out in the existing infrastructure, the Power Sector Reform Committee headed by Honorary Adviser on Energy to the President, Dr. Rilwanu Lukman, has proposed. (AllAfrica)

The Government will not take up any more shares entitled to it in the Kenya Commercial Bank rights issue, which opened yesterday. (AllAfrica)

The search for the country's chief privatisation officer is to begin afresh after the board of the newly- created Privatisation Commission said it found the shortlisted candidates inadequate for the job. (AllAfrica)

Most Ugandans who applied for the Safaricom shares during the company's Initial Public Offer and failed to get full share allocations, have opted to reinvest their refunds at the Nairobi Stock Exchange. (AllAfrica)

Fresh details have emerged about the identity of Alcazar Capital Ltd - the Dubai-based private equity fund at the centre of a row in parliament caused by allegations by the chairman of the Public Accounts Committee, Dr Bonny Khalwale, that it improperly acquired shares of mobile company Safaricom Ltd during the latter's recent initial public offer. (AllAfrica)

During the initial public offering for Safaricom shares, in April I pointed out that Ugandans participating in the IPO would face three definite risks, namely: the risk due to oversubscription; the risk of moving money, and foreign exchange risk; then there are those who took loans to finance their Safaricom application. (AllAfrica)

I have been prompted to write this article in response to the purported statement made by the Hon. Minister for Works, Housing and Water Resources, Hon. Abubakar Saddique to the effect that "Water is no more free". (AllAfrica)

It may have started with a whimper and a slew of false starts, but the last fiscal year turned out to be one of the most successful for the State's effort to get out of business. (AllAfrica)

LIBYAN Hotel is the new name of Windsor Hotel in Entebbe, writes Mikaili Sseppuya. (AllAfrica)

The Federal Government will no longer build or maintain roads, President Umar Musa Yar'Adua announced in Abuja yesterday. The process would now be private sector driven, he said. (AllAfrica)

Public Procurement and Disposal of Public Assets want all public land regulated and sold only through competitive bidding. (AllAfrica)

The National Council on Privatization (NCP) has inaugurated three sub-committees of the Presidential Task Force on Port Reforms. (AllAfrica)

Shares in Safaricom rose 50 per cent on the first day of trading adding Sh100 billion of new wealth in one of Africa's richest IPO debuts that now values the company at Sh300 billion. (AllAfrica)

Even as Safaricom notched a stellar 50 per cent increase in its share price on the first day of trading, for some investors, it was not a good debut for the telecoms giant. (AllAfrica)