Hasty merger of parastatals risky

Hotel InterContinental

Hotel InterContinental Nairobi. The state-owned Tourist Finance Corporation (TFC) has 33.8 per cent stake in this prime property.

Photo credit: File

What you need to know:

  • Is it proper to cease operations of a parastatal that sits on and manages huge public assets in such an arbitrary and whimsical manner?
  • The picture you see as you try to understand these developments is that of opacity and total confusion. 

First, the news. The National Treasury recently wrote to the state-owned Tourist Finance Corporation (TFC) — formerly Kenya Tourist Development Corporation (KTDC) — directing it to immediately freeze its operations.

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