Marked parastatal chiefs on the chopping end as Ruto eyes new faces
2 min read
Parastatal chiefs of cash-rich firms are sitting on the edge as President Ruto seeks to replace them
Parastatal chiefs of cash-rich firms are sitting on the edge as President Ruto seeks to replace them.
Ruto since he took over power has fired directors appointed in former president Uhuru Kenyatta’s last days and replaced them with losers in the August General Elections who supported him.
And now, Tens of parastatal chief executives are sitting on the edge as Ruto’s administration aggressively seeks to replace top bosses in State-backed firms to assert his influence.
At least nine cash-flush parastatal CEOs’ tenure will expire in the upcoming months, while more than 11 of the companies’ CEOs are working in an acting capacity.
The President and ministers try to impose their authority over government-managed organizations that have historically been used as centers of patronage by regimes.
This has set the stage for the replacement of chief executives of top State-owned firms by friendlier boards despite a majority of their contracts running up to next year.
The terms of chief executives in firms such as Kenya Pipeline Company (KPC), National Social Security Fund (NSSF), Geothermal Development Corporation (GDC), Kenya Railways Corporation, and National Hospital Insurance Fund (NHIF) have either lapsed in recent weeks or are set to expire in coming months.
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Others are Rural Electrification and Renewable Energy Corporation (Rerec), and Kenya Urban Roads Authority, triggering jostling for the top posts that will mainly be offered to technocrats aligned with the new administration.
The tenure of Central Bank Governor Patrick Njoroge will also come to an end in June.
CEOs of cash-rich-parastatals such as the Kenya Airports Authority (KAA), Communications Authority of Kenya (CA), Energy and Petroleum Regulatory Authority (EPRA), and Kenya National Highways Authority (KeNHA have contracts running into 2024.
The top jobs at parastatals will be low-hanging fruits for Ruto’s new ministers.
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