Editor's Review

President William Ruto on Tuesday, March 10, rang the bell at the Nairobi Securities Exchange (NSE) to mark the official listing of the Kenya Pipeline Company (KPC) on the bourse.

President William Ruto on Tuesday, March 10, rang the bell at the Nairobi Securities Exchange (NSE) to mark the official listing of the Kenya Pipeline Company (KPC) on the bourse.

Speaking during the bell-ringing ceremony, President Ruto noted that KPC is the first privatized entity to be listed in NSE in nearly 20 years.

The Head of State mentioned that the previous listing was Safaricom PLC, which joined the bourse in 2008.

“The Kenya Pipeline Company IPO is the first privatization listing in nearly two decades at this bourse, the previous one being Safaricom, which was listed in June 2008,” said Ruto.

The President said the proceeds of the KPC IPO will provide the capital base for the National Infrastructure Fund (NIF).

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File image of Kenya Pipeline Company depot. 

“Unlike previous privatization proceeds that were absorbed in the general government budget, the proceeds of this IPO, as well as future privatization, will provide capital to the National Infrastructure Fund, which I signed into law yesterday,” he stated.

President Ruto noted that the KPC IPO attracted over 70,000 Kenyan investors, with the governments of Uganda and Rwanda also participating.

“I am particularly encouraged by several milestones achieved through this IPO. This has been Kenya’s first fully electronic public offering with all applications submitted digitally, making it a truly paperless and modern IPO,” said the President.

Further, Ruto said his government is planning to bring the Road Maintenance Levy Fund (RMLF) saucerization bonds to NSE.

The KPC IPO, which ran from January 19, 2026, to February 24, 2026, raised Ksh106 billion.

The government offered 65 percent of the KPC shares to the public while retaining 35 percent.

The Kenya Pipeline IPO was priced at Ksh9.00 per offer share, with a par value of Ksh0.02 per share.

Speaking on Monday at State House, Nairobi, President Ruto said that Ksh20 billion from the proceeds of the privatization of KPC will be channeled to the expansion of the Jomo Kenyatta International Airport (JKIA) under NIF.

“We just announced the contract for the expansion of JKIA, and between Ksh15 and Ksh 20 billion from the proceeds of the Kenya Pipeline IPO will go to financing the seed money for the expansion of JKIA,” said the President.