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The Government of Kenya, through the Privatization Commission, has issued a public call for transaction advisors to support the upcoming initial public offering (IPO) of the Kenya Pipeline Company (KPC).
The Privatization Commission, established under the Privatization Act of 2005 to oversee and implement privatization programs, is spearheading the process following the approval of KPC’s privatization by both Parliament and the Cabinet.
This development paves the way for the first public offering of shares in the state-owned company on the Nairobi Securities Exchange (NSE).
KPC was incorporated on September 6, 1973, and began commercial operations in 1978.
KPC is responsible for the safe and efficient transportation of petroleum products, including Motor Spirit Premium (MSP), Automotive Gas Oil (AGO), Jet A-1, and Illuminating Kerosene (IK).
The company’s pipeline system extends beyond Kenya to serve neighboring countries, including Uganda, Rwanda, the Democratic Republic of the Congo, northern Tanzania, Burundi, and southern Sudan.
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Currently, it’s fully owned by the Government of Kenya, with 99.9% held by the National Treasury and 0.1% by the Ministry of Energy and Petroleum.
The proposed IPO aims to diversify ownership and enhance the company’s operational efficiency.
The Privatization Commission stated that the transaction would unlock KPC’s full potential and ensure broad national benefits.
Benefits of Selling Kenya Pipeline
Key objectives outlined include raising funds for the 2025/2026 budget, empowering ordinary Kenyans to own stakes in a strategic national enterprise, promoting transparency and corporate governance through stock exchange listing, and supporting critical development priorities.
“The privatization of Kenya Pipeline Company presents a strategic opportunity to bolster economic growth, improve service delivery, and deepen Kenya’s capital markets,” the commission said in a notice.
The commission is now seeking qualified transaction advisors to provide specialized services to facilitate the IPO process.
How to Bid
The advisory roles include lead transaction advisory, lead sponsoring stockbroker and co-sponsoring stockbroker services, reporting accountant services, legal advisory services, advertising agent services, public relations services, receiving bank services, and registrar services.
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Interested and eligible firms are invited to submit proposals by October 21, 2025.
The lead transaction advisor will coordinate the entire IPO process, including managing other advisors and ensuring compliance with all regulatory requirements.
According to the Privatization Act, this move complies with Section 25(c), which requires approval from the National Assembly for privatizing state enterprises through public share offerings.
The expected closing date for the KPC transaction is March 31, 2026.
KPC’s privatization is part of the government’s broader economic reform efforts aimed at stimulating growth, enhancing public sector efficiency, and attracting private investment.
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