Written by Lisa Murimi
President William Ruto has announced plans to list Kenya Pipeline Company (KPC) on the Nairobi Securities Exchange (NSE), marking a significant step in the government’s renewed push for privatisation and economic reform.
The listing, subject to Cabinet and parliamentary approval, would position KPC alongside other successful State-owned enterprises on the bourse, including Safaricom, Kenya Electricity Generating Company (KenGen), and Kenya Commercial Bank (KCB).
Speaking during a bell-ringing ceremony at the NSE, President Ruto said the move is aimed at eliminating inefficiencies, boosting governance, and attracting new investment.
“While other nations in the region have moved boldly and strategically to divest and reinvigorate their economies, Kenya has not undertaken a single privatisation in over a decade,” the President noted.
The announcement came as the President presided over the launch of the Linzi 003 Infrastructure Asset-Backed Security, which raised over KSh44 billion to finance Kenya’s first international stadium in over 40 years—the Talanta Sports City Stadium.
The bond, issued by Linzi Finsco 003 Trust, a subsidiary of Liaison Group, reflects growing investor confidence.
Ruto said the strong performance of the NSE, with market capitalisation reaching KSh2.5 trillion, signals a recovering economy underpinned by stable inflation, a firm shilling, and rising foreign reserves.
President Ruto also highlighted Kenya’s rise in economic rankings—now the sixth largest economy in Africa, up from eighth in 2023.
While acknowledging his government has taken on ambitious reforms, Ruto defended the pace of change:
“The critics may say I am wrong. The cynics may say I am lying. And the naysayers may even say I am mad. But what if they are all wrong—and they are.”
If successful, the KPC listing would mark a pivotal moment in Kenya’s long-delayed privatisation programme.
