By Joshua Otieno | March 4, 2026
President William Ruto has welcomed the successful outcome of the Kenya Pipeline Company (KPC) Initial Public Offering (IPO), describing it as a significant milestone in Kenya’s privatisation agenda and economic turnaround programme.
The IPO, the first in Kenya in 17 years, recorded an overall subscription rate of 105 percent, signaling strong investor confidence in the Government’s reform initiatives and the country’s economic prospects.
The President noted that more than 67 percent of participating investors were Kenyans, investing both individually and through institutions. He said the high local participation broadens public ownership of national assets while promoting diversification of wealth and equal opportunity.
President Ruto also welcomed strategic regional participation from East African Community investors, including Uganda and Rwanda, terming it a demonstration of growing regional confidence in Kenya’s economy and positioning KPC as a truly regional energy infrastructure company.
Speaking at State House Nairobi, where he received a brief on the IPO outcome, the President reiterated that proceeds from the share sale will be channelled to the National Infrastructure Fund (NIF).
He said the funds will support the development of critical national infrastructure projects once Parliament approves the operationalisation of the Fund.
The Head of State described the IPO’s success as a clear indication of renewed market confidence and a step forward in strengthening Kenya’s capital markets and infrastructure financing framework.
