Kenya to List Kenya Pipeline Company on Nairobi Securities Exchange in 2025, Announces President Ruto
London, The Gulf Observer: President William Ruto has announced that the Kenya Pipeline Company (KPC) will be listed on the Nairobi Securities Exchange (NSE) through an Initial Public Offering (IPO) in 2025, marking a significant step in Kenya’s broader privatisation agenda aimed at attracting both local and international investors.
Speaking at the London Stock Exchange during the market opening ceremony, held as part of the Africa Debate Forum, President Ruto highlighted the planned IPO as a “unique opportunity for investors to deploy capital in one of Kenya’s most strategic infrastructure enterprises.”
The President described the decision as part of a structured, time-sensitive programme to enhance private sector participation and broaden the appeal of Kenya’s capital markets.
“We have made a deliberate, strategic decision to broaden Kenya’s stock market appeal to both domestic and international investors by earmarking key state assets for privatisation through Initial Public Offerings,” Ruto stated.
The government has identified KPC, a key player in Kenya’s energy infrastructure, as a priority for listing. Ruto emphasised the importance of capital markets in Africa’s economic growth, noting that they are essential for mobilising domestic savings, attracting foreign investment, and financing long-term projects in infrastructure, innovation, and industrial development.
President Ruto also acknowledged the United Kingdom’s longstanding support for Kenya’s economic reforms and market development.
“For decades, the UK has been a steadfast partner in Kenya’s and Africa’s development journey, supporting institutional reforms, infrastructure, and market development that continue to shape a more prosperous and resilient future,” he said.
He further credited recent reforms under the leadership of the new NSE management with positioning the NSE as Africa’s top-performing stock exchange in dollar returns for 2024, according to Morgan Stanley Capital International.
The President also praised UK-backed initiatives, such as Mobilist and FSD Africa, for their role in enhancing inclusive, transparent financial markets across the continent. “These initiatives are unlocking capital for impactful and sustainable projects while improving transparency, investor confidence, and long-term returns,” Ruto added.
The IPO plans were previously hinted at by National Treasury Cabinet Secretary John Mbadi, who confirmed the government’s intention to list KPC on the NSE following the company’s strong financial performance.
Mbadi made the remarks after receiving an interim dividend cheque of KSh 3 billion from KPC Board Chairperson Faith Boinett for the half-year ending December 2024. This brought total dividends paid by KPC to the National Treasury to KSh 10.5 billion over the past year.
“We believe that KPC will significantly benefit from listing at the Stock Exchange, particularly as it expands operations across the region,” Mbadi said. He noted that the listing would inject much-needed capital for expansion and diversification, including into the Liquefied Petroleum Gas (LPG) sector, while giving Kenyans an opportunity to own a stake in the company.
Mbadi also indicated that the government would support plans to integrate Kenya Petroleum Refinery into KPC as part of efforts to enhance operational efficiency and market readiness.
The planned listing of KPC is expected to be a milestone for Kenya’s capital markets and privatisation programme, reinforcing the country’s position as an investment destination in Africa.
