Kenyan President William Ruto has announced plans to sell shares in up to 10 state-owned companies on the Nairobi Securities Exchange (NSE) within the next 12 months while acknowledging a number of legal hurdles must first be removed. “In the next 12 months, we will have between six and 10 companies listed… I promise we will deliver on that commitment,” Ruto said in a speech at the NSE on Tuesday (October 11). Initial public offerings (IPOs) could help achieve what Ruto has called the democratization of wealth, he said, and boost government coffer without having to borrow from external marke…