--- title: The 2023 Privatization Act – Towards Streamlining Privatization description: On Monday, 09 October 2023, the President assented to the 2023 Privatization Act. The Act will overhaul the regulatory framework for privatizing public entities established by the 2005 Privatization Act. It represents a notable and hopeful advancement in privatization regulation. It is expected to enhance privatization by simplifying the privatization process and timelines. It is also aimed at encouraging wider participation, fair evaluation, and quicker funding to have a positive impact on privatization. image: https://insights.afriwise.com/hubfs/Pictures/Skylines/Kenya/KENYA-pexels-antony-trivet-12851969.jpg --- [![Afriwise](https://insights.afriwise.com/hubfs/Logos/Afriwise/Afriwise%20logo.svg)](https://afriwise.com/) - [Products](https://afriwise.com/law-products-africa/) - [Countries](https://afriwise.com/countries-covered/) - [About Afriwise](https://afriwise.com/about-afriwise/) - [Contact](https://afriwise.com/contact/) - [News](https://news.afriwise.com/) - [Insights](https://insights.afriwise.com/blog) [Schedule a demo](https://afriwise.com/contact/) [Log in](https://afriwise.com/login/) - [Products](https://afriwise.com/law-products-africa/) - [Countries](https://afriwise.com/countries-covered/) - [Solutions](https://afriwise.com/solutions/) - [About Afriwise](https://afriwise.com/about-afriwise/) - Insights - [Contact](https://afriwise.com/contact/) - [News](https://news.afriwise.com/) [Schedule a demo](https://afriwise.com/contact/) [Log in](https://afriwise.com/login/) # The 2023 Privatization Act – Towards Streamlining Privatization [Kenya](https://insights.afriwise.com/blog/tag/kenya) [Corporate Commercial](https://insights.afriwise.com/blog/tag/corporate-commercial) [Legislation](https://insights.afriwise.com/blog/tag/legislation) 25/10/2023 [KN Law](https://insights.afriwise.com/blog/author/kn-law) On Monday, 09 October 2023, the President assented to the 2023 Privatization Act. The Act will overhaul the regulatory framework for privatizing public entities established by the 2005 Privatization Act. It represents a notable and hopeful advancement in privatization regulation. It is expected to enhance privatization by simplifying the privatization process and timelines. It is also aimed at encouraging wider participation, fair evaluation, and quicker funding to have a positive impact on privatization. We highlight the changes introduced below.   Click to [Download](https://kn.co.ke/wp-content/uploads/2023/10/Legal-Alert-Privatization-Act-2023-17102023.pdf)     -- Read the original publication at [KN Law.](https://kn.co.ke/the-2023-privatization-act-towards-streamlining-privatization/) ## Related posts [Kenya](https://insights.afriwise.com/blog/tag/kenya) [Tax](https://insights.afriwise.com/blog/tag/tax) [Legislation](https://insights.afriwise.com/blog/tag/legislation) ## [Same Script, Different Cast: An Analysis of the Proposed Tax Laws (Amendment) Bill, 2024 and Tax Procedures (Amendment) (no.2) Bill, 2024 in Kenya](https://insights.afriwise.com/blog/same-script-different-cast-an-analysis-of-the-proposed-tax-laws-amendment-bill-2024-and-tax-procedures-amendment-no2-bill-2024-in-kenya) In response to the current economic landscape and the need for sustainable public finance, National Treasury has proposed significant amendments aimed at enhancing tax compliance, broadening the tax base, and improving the overall fiscal framework in Kenya. 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