President William Ruto has confirmed the listing of the Kenya Pipeline Company (KPC) on the Nairobi Securities Exchange (NSE) months after the National Treasury revealed that the government was exploring the plan.
National Treasury Cabinet Secretary, John Mbadi, had in February made the announcement during an event to receive a Ksh3 billion interim dividend from the KPC Board at the company’s headquarters in Nairobi.
Speaking in Paternoster Square, London, during the Market Open ceremony at the London Stock Exchange on July 2, 2025, President Ruto said that Kenya Pipeline will be listed before the close of 2025 through an Initial Public Offering (IPO).
Ruto confirms listing Kenya Pipeline on NSE in 2025
According to him, this will offer “investors a unique opportunity to deploy capital in one of Kenya’s most strategic infrastructure enterprises.”
“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,” Ruto said.
“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.”
Also Read: How Private Firm Took Over Kenya Pipeline Project After Ksh192.6 M Investment
The Head of State further maintained that Kenya is committed to the development of its capital markets, particularly through strengthening the NSE.
Ruto highlighted that this commitment is underpinned by strategic reforms and a refreshed, market-focused strategy under the leadership of the new NSE team.
“Supported by fiscal consolidation, effective debt management, and a stronger currency, these reforms helped the Nairobi Securities Exchange emerge as Africa’s top performer in dollar returns in 2024, according to Morgan Stanley Capital International,” he added.
At the same time, the President lauded the United Kingdom for remaining a “steadfast and strategic partner in advancing Africa’s capital markets”.
He noted that programmes such as Mobilist, in partnership with exchanges like the NSE and the Nigerian Stock Exchange, are helping democratise access to investment and promote financial inclusion.
“By leveraging listed equity and debt instruments, including green, gender, and climate bonds, these initiatives are unlocking capital for impactful and sustainable projects while improving transparency, investor confidence, and long-term returns,” Ruto added.
Upcoming KPC projects
The confirmation of the plan to list KPC on the Nairobi Stock Exchange by President Ruto comes after CS Mbadi explained the potential benefits of the listing, comparing it with corporate giants like Safaricom and KenGen, who have significantly benefited from going public.
“We have this feeling that KPC needs to realise the benefits that will accrue from a listing at the Stock Exchange. 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,” said Mbadi.
Also Read: Relief as John Mbadi Explains Why Govt Won’t Increase Taxes in 2025
At the same time, the CS announced that one of Kenya Pipeline’s major upcoming projects was the establishment of a trading hub for the receipt, distribution, and trading of petroleum and petroleum products in Mombasa, to support the growth of the oil and gas industry in the region.
Additionally, Mbadi said that KPC holds a 90% stake in fuel transport to Uganda and that it is working to expand its reach into Rwanda, positioning itself as a leader in regional fuel transportation.
CS Mbadi further outlined plans to wind down Kenya Petroleum Refinery Limited (KPRL) and merge it with Kenya Pipeline.
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