President William Ruto on Monday highlighted key achievements in education, outlined plans to sell shares in Kenya Pipeline, and detailed ambitious infrastructure projects funded through capital markets.
Speaking at a UDA National Governing Council meeting at State House, Nairobi, the President said his administration had made significant progress in transforming the education sector.
“We have transformed education in a very fundamental way. We have sorted out the problems with CBC. We have sorted out the teacher shortage. We have sorted out the infrastructure shortage. Twenty-one universities had been declared insolvent. Today, because of the new funding model, our university and TVET education are on sound footing,” Ruto said.
On the economy, the President spoke about the ongoing sale of Kenya Pipeline shares on the Nairobi Securities Exchange, aimed at giving ordinary Kenyans the chance to own a stake in a strategic national asset.
“We have an opportunity to buy shares in Kenya Pipeline. Kenya Pipeline is not going to go away from Kenya. We are raising money to let Kenyans own it. This is part of democratising ownership, part of democratising the wealth of our nation, so that each and every Kenyan can have access to owning what we have built together as a nation,” he said.
Ruto added that priority would be given to Kenyans who apply for the shares before any other investors.
He also announced plans to raise Sh350 billion from privatisation initiatives over the next two months, with the funds earmarked to support infrastructure projects worth Sh4 trillion across the country.
“In the next two months, we are going to raise about Sh350 billion from privatisation at the capital markets. That Sh350 billion will enable us to build infrastructure worth Sh4 trillion. That’s what we are going to apply,” he said.