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ICDC gets new lease of life in parastatals restructuring

THE STANDARD FINANCIAL STANDARD Amidst the daily chaos of a city forever in a rush, Uchumi House Towers on Nkrumah Avenue stands stoically as it has for almost 50 years now. Kencom House shields the building from the matatu madness at the Kencom bus terminus. Unknown to the milling crowds below, the drab concrete block is the new seat of power of one of the government’s most influential agencies. The Industrial and Commercial Development Corporation (ICDC), which is housed in the 21-storey Kanu-era relic, is now set to control Kenya’s richest parastatals with assets worth over Sh685 billion and annual revenues of Sh72 billion.

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