Kenya to sell 35 state companies as Africa seeks to jumpstart IPOs
KENYA'S President William Ruto said the government was poised to privatise 35 state companies after enacting a law last month to guide the process. Kenya last privatised a state-owned company in 2008 with an initial public offering (IPO) for 25% of the shares in telecommunications firm Safaricom. "We have identified the first 35 companies that we are going to offer to the private sector. We have another close to 100 we are working with financial advisers on what to do," Ruto said in remarks at the opening ceremony of the African Stock Exchanges Association's annual meeting in Nairobi. Finance Minister…