President William Ruto.
President William Ruto has announced that the government will list the Kenya Pipeline Company (KPC) at the Nairobi Stock Exchange (NSE).
Speaking in London on Wednesday, July 2, the President said the company will be listed at the NSE by the end of 2025.
“We are committed to a structured, time-sensitive programme that identifies and prepares a robust pipeline of key government assets to be privatised through the stock exchange or improved through private sector participation,” Ruto announced.
“As part of this initiative, we plan to list the Kenya Pipeline Company through an IPO in 2025, offering investors a unique opportunity to deploy capital in one of Kenya’s most strategic infrastructure enterprises.”
The President explained that KPC’s listing is among his government’s plans to widen the local stock market while opening several state corporations to foreign investment.
National Treasury Cabinet Secretary, John Mbadi, had in February made the announcement during an event to receive a Ksh3 billion interim dividend from the KPC Board at the company’s headquarters in Nairobi.
CS Mbadi said KPC has numerous benefits to realise from a listing at the stock exchange, citing Safaricom and the Kenya Electricity Generating Company (KenGen)’s performance since being publicly traded.
“Listing will be a good idea, especially as KPC expands into the region, because it will provide much-needed liquidity and capital for expansion and diversification into LPG. Kenyans will have a chance to own a piece of KPC,” said Mbadi.
If listed, KPC would join KenGen, Kenya Power, and Kenya Re-Insurance Corporation (Kenya Re) among the NSE-listed state corporations.
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