Signing of the Framework Agreement establishing the Kenya Transport and Logistics Network
- Treasury Building, Kenya
“The reorganization will help to establish a seamless and coordinated national transport and logistics network,” said Yatani.
Further, the new structure is expected to lead to the lowering of the cost of doing business in the country through the provision of port, rail and pipeline infrastructure in a cost effective and efficient manner, and within acceptable shared benchmark
In addition, the network will allow for centralisation of operations and would not cause disruption to the legal structuring of the estate entities.
The three state agencies have since been transferred to the National Treasury.
The National Treasury has been tasked to strengthen its internal capacity by securing the necessary technical skills and competencies needed to effectively oversee investment portfolio management, and the setting up, monitoring and reporting of the financial performance of commercial state corporations.
Due to the reforms, the proposed merger of the ICDC into the Kenya Development Bank has been postponed.
However, ongoing transactions involving KPC, KRC and KPA will proceed uninterrupted