How KICC Made Ksh1 Billion In Six Months Amidst Privatization Plans

The Kenyatta International Convention Centre (KICC) made an astounding Ksh1.07 billion in revenue between July and December 2023 amidst plans to privatise the national monument.

This was revealed by Tourism Cabinet Secretary (CS) Alfred Mutua, who on Thursday, February 8 convened a meeting with the board and management of KICC.

Mutua remarked that the revenue generated was significant and surpassed expectations given that KICC had set an ambitious target of Ksh545 million for the same period.

"Throughout the session, I received comprehensive briefings on various aspects, including their strategy to attract conference tourism to Nairobi.

Tourism Cabinet Secretary Alfred Mutua during a meeting with KICC board members on February 8, 2024. /ALFRED MUTUA

"Led by Chairperson Adelina Mwau, the board shared insights into their ongoing efforts to develop a new marketing plan aimed at positioning KICC as the premier destination for conferences and exhibitions within the region," stated Mutua on his Facebook page.

The revenue generated was attributed to the series of high-profile conferences held at the facility within six months.

Of utmost significance was the Africa Climate Summit hosted by President William Ruto at the venue between September 3-6, 2023, which pulled in more than 10,000 international delegates that included presidents and heads of government.

Another high-profile event held at the venue was the Youth Connekt Africa Summit which took place from December 8-13 dubbed Youth Innovating Borderless African Renaissance.

KICC was also seen to generate rent given that several lawmakers have offices at the 32-storey tall building.

"In my address to the board, I emphasized the critical importance of unity and cohesion, stressing our collective mission to work as a unified team with only one objective, actualizing our set goals. Our primary objective remains the fulfilment of the Kenya Kwanza Administration's Bottom-Up Economic Transformation Agenda (BETA)," added Mutua.

The CS also announced plans to reconvene with the board next week to delve into onboarding a strategic partner.

"This partner will play a pivotal role in revitalizing KICC, infusing capital, and elevating it into a world-class facility poised for even greater success," he explained.

However, the CS did not explain if the strategic partner was part of the government's privatisation plan.

KICC was one of 11 parastatals lined up for sale by the government, with it and the Kenya Literature Bureau (KLB) to be incorporated into a limited company.

At the time, the National Treasury explained that privatisation would make it competitive and reduce its reliance on the government for funding through the exchequer.

However, there was uproar over the planned privatization of KICC with arguments that it was a national monument. Nonetheless, the High Court issued conservatory orders suspending the planned sale of the 11 parastatals following a case filed by the Orange Democratic Movement (ODM) headed by Raila Odinga.

Aerial view of the Kenyatta International Convention Centre (KICC) tower. /AFRICASASA.COM