Nairobi, Kenya – President William Ruto has announced that the Kenya Pipeline Company (KPC) will list shares on the Nairobi Securities Exchange by September 2025 – the first time in over a decade a major Kenyan parastatal is headed for privatization. Speaking at a financial event in Nairobi, Ruto confirmed that the government is finalizing plans for an Initial Public Offering (IPO) of KPC, with the Privatisation Commission putting the final touches on the deal before seeking Cabinet and parliamentary approval.

The move is part of a broader strategy to open up state-owned enterprises to local and international investors in order to boost efficiency and raise capital. “Kenya has not undertaken a single privatization in over ten years, while our peers have reaped benefits from divesting,” Ruto noted, emphasizing that selling a stake in KPC will help the company grow. By floating at least 20% of KPC’s equity on the NSE, the government expects to raise funds for the pipeline operator’s expansion – including upgrades to fuel infrastructure and entry into new markets like Liquefied Petroleum Gas (LPG).

Officials added that the share sale will also deepen Kenya’s capital markets and allow ordinary citizens to own part of a strategic asset in the energy sector. KPC oversees the country’s fuel pipeline network, making it critical to the economy. Under the plan, additional state entities such as Kenya Literature Bureau, Rivatex East Africa, National Oil Corporation and New Kenya Cooperative Creameries are also being readied for partial privatization to reduce government involvement and spur growth.

The KPC IPO proposal is expected to go before the Cabinet by end of July, and then to Parliament for final approval. If all goes smoothly, trading of KPC shares could begin on the NSE within two months. Market analysts are watching closely, calling the plan a potential “game-changer” that could revive investor interest in Kenya’s bourse and set a precedent for rejuvenating other state corporations through the stock market.