KCH looks at accountability concerns

Kumul Consolidated Holdings Ltd (KCH) is addressing accountability concerns in State-owned enterprises (SOEs), acting managing director David Kavanamur says.
He said SOEs were working in a difficult operating environment implementing a strategy to improve the sector.
Focusing on core businesses, KCH would be guided by industry specific key performance indicators (KPIs) to create a strategy to stabilise SOEs.
“We’re working on investing and growing SOEs to grow the general business trust of which KCH is a custodian,” Kavanamur said.
“Through consultation, we’re working with SOEs to have a strategy in place along with KPI’s specific to each of the enterprises.”
The consultation process has been completed and is awaiting State Enterprises Minister William Duma to table in Cabinet.
The board members will be assessed on KPIs, as well as managing directors and chief executive officers. Amendments to the KCH Act have been passed, gazetted and supported by the Asian Development Bank (ADB).
“We have completed phase one, two of our current reform programmes are with the ADB and we’re negotiating phase three which will take us to an accountable SOE sector,” Kavanamur said.
“Generally in SOEs, as long as you have a good board, you will have a guaranteed quality of numbers that will go towards your balance sheet and that is the major issue we are addressing.”