President William Ruto has announced that the government will list Kenya Pipeline Company on the Nairobi Securities Exchange (NSE) by the end of this year.
Speaking in London on Wednesday, July 2, Ruto stated that the move was aimed at helping the body raise capital from international and local investors.
With the listing of Kenya Pipeline, Kenyans will not be able to buy shares in the institution, which is mandated to transport, store, and distribute petroleum products from Mombasa to other parts of the country.
"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," he 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 Head of State added that other state corporations will be listed in the NSE as part of the strategy to raise capital for the institutions.
"As a government, we have equally made a strategic decision to broaden Kenya’s stock market appeal to both local and international investors by earmarking key State assets for privatisation through Initial Public Offerings at the Nairobi Securities Exchange," read the statement in part.
In February, Treasury CS John Mbadi stated that the listing of Kenya Pipeline was strategic and would help in enhancing capital for the institution, which can help diversify its operations across the region.
“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,” he stated.
Kenya Pipeline is among the state-run corporations that have been profitable in recent years.
In March 2025, it declared a Ksh10 billion pretax profit. Out of that, Ksh7 billion was remitted to the National Treasury as dividends.
"In the fiscal year 2023/24, KPC maintained its strong financial performance, reflecting our strategic priorities and proactive measures to address emerging challenges.
"Despite the unpredictability of the business environment, our team’s diligence and innovative approach enabled us to achieve a 32% increase in profit before tax, amounting to Ksh10.0 billion for the year ending 30 June 2024, compared to Ksh7.6 billion achieved in the previous fiscal year," KPC CEO Joe Sang announced.
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