Oil & Gas

The Kenya Pipeline Company (KPC) is set to list on the Nairobi Securities Exchange (NSE) through an initial public offering (IPO), following Cabinet approval of its partial privatisation. President William Ruto’s Cabinet officially endorsed the move on July 29, allowing the reinstatement of KPC into the government’s privatisation programme.

The Cabinet said this decision reflects a strategic policy shift aimed at reducing the government’s direct role in commercial operations and creating space for the private sector to drive performance. “KPC has strong profitability and asset value, but its full potential remains untapped due to public sector inefficiencies and bureaucratic constraints,” the Cabinet noted in its statement.

By allowing partial divestiture, the government aims to attract private capital and professional management to unlock KPC’s commercial value. The Cabinet further emphasized that this will introduce operational discipline, innovation, and accountability, positioning KPC for stronger regional competitiveness in oil and gas logistics.

KPC joins other successful state-owned firms such as Safaricom, Kenya Commercial Bank, and KenGen, which were previously listed via IPOs and have performed well in the market. “The divestiture of KPC is expected to follow this path, boost investor confidence, and strengthen Kenya’s capital markets,” the Cabinet statement concluded.