President William Ruto has confirmed plans by the government to list the Kenya Pipeline Company (KPC) on the Nairobi Securities Exchange (NSE) before the end of 2025.
Speaking in London on Wednesday, July 2, Ruto stated that the move is part of a wider economic reform strategy aimed at enhancing public participation in state-owned enterprises and unlocking capital through the private sector.
“Kenyans will soon have the opportunity to own a piece of one of the country’s most strategic infrastructure companies,” the President said, noting that the listing would allow citizens and institutional investors to buy shares in the state-run corporation.
Ruto noted that the listing will form part of a structured, time-sensitive government programme to privatise key state assets via the stock market or through public-private partnerships.
“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 stated.
“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 government aims to attract both local and international investors through the listing.
Through the Initial Public Offering (IPO), ordinary Kenyans will be able to buy shares in the Kenya Pipeline Company. In return, shareholders will be entitled to dividends when the company records profits.
KPC is mandated to transport, store, and distribute petroleum products from Mombasa to the rest of the country and has been consistently profitable.
In March 2025, the company reported a strong financial performance, declaring a Ksh10 billion pretax profit for the 2023/24 financial year.
Strong Financials Behind the Decision
Kenya Pipeline Company CEO Joe Sang stated that the company’s performance was a result of proactive strategies and resilience amid an unpredictable economic environment.
“In the fiscal year 2023/24, KPC maintained its strong financial performance, reflecting our strategic priorities and proactive measures to address emerging challenges,” Sang said in March.
“Despite the unpredictability of the business environment, our team’s diligence and innovative approach enabled us to achieve a 32 percent 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.”
Broader Privatisation Agenda
The listing of KPC is part of broader efforts by the Ruto administration to reform state corporations and reduce the fiscal burden on government by involving the private sector in ownership and management.
Several other state-run firms are also expected to be listed on the NSE or undergo partial privatisation under this plan.
The announcement aligns with the administration’s commitment to transparency, economic expansion, and greater citizen participation in national assets.
