Written By Joyce Nzomo
President William Ruto on Tuesday announced an ambitious plan to privatize key state-owned enterprises, beginning with the Kenya Pipeline Company, in a move aimed at attracting private-sector investment and easing the country’s fiscal pressures.
Speaking at the London Stock Exchange, Ruto emphasized the importance of unlocking public assets to stimulate Kenya’s capital markets and reduce reliance on public borrowing.
“We are unlocking state assets to boost capital markets and give citizens a stake in national enterprises,” Ruto said.
“Kenya must shift from a state-dominated economy to one that harnesses private capital, technology, and innovation.”
The government intends to launch an initial public offering (IPO) for the Kenya Pipeline Company later this year through the Nairobi Securities Exchange (NSE).
Ruto also announced plans to securitize public assets such as hospital equipment and roads offering them as investment products listed on the NSE.
The President’s remarks highlight a growing push for economic liberalization and private capital participation as Kenya navigates tight fiscal conditions and reduced foreign aid inflows.
Ruto assured investors of transparency and market stability, positioning Kenya as a competitive hub for African capital investment.
His appearance in London marks a significant effort to deepen Kenya’s engagement with international financial markets, signaling a shift toward a more privatized, market-led development strategy.
