Government plots reforms for managing Ksh 4.6T of public assets

Public Investments and Assets Management Principal Secretary Cyrell Wagunda has unveiled an ambitious reform agenda aimed at streamlining state corporations and standardizing asset management across government.

Appearing before the National Assembly’s Public Debt and Privatization Committee chaired by Shurie Abdi Omar, the Wagunda detailed sweeping measures designed to enhance transparency, eliminate inefficiencies, and improve returns on public assets.

Wagunda revealed that as of June 30, 2025, the National Government’s total asset portfolio stood at Ksh 4.9 trillion, with state corporations accounting for the bulk of the holdings.

He said the valuation stems from ongoing efforts to compile and harmonize asset registers across ministries, departments, and agencies.

“This process is about bringing order and structure to how government assets are identified, valued, and managed,” Wagunda told the committee.

A key pillar of the reforms is the rollout of the Electronic Government Procurement (EGP) system, which seeks to address widespread inconsistencies in public procurement pricing.

The platform is expected to standardize costs for commonly purchased goods and curb wasteful expenditure.

“This system is the way to go. We have seen situations where this water, when it is bought here, could be Sh100. When it goes to another state department, it is Ksh 500. This system is bringing standardization so that we can cut wastage in government,” he explained.

The committee was also briefed on the first phase of state corporation reforms, which will see 23 entities merged into nine new government-owned enterprises, alongside the dissolution of 16 others, including six regional development authorities.

The restructuring is aimed at reducing duplication, lowering administrative costs, and enhancing operational efficiency.