During an investment tour in Uganda on Sunday, President William Ruto announced that the Kenyan government plans to publicly list shares of the Kenya Pipeline Company (KPC) on the Nairobi Securities Exchange, opening the door for Uganda and other regional investors.
Speaking alongside Ugandan President Yoweri Museveni, Ruto confirmed that Kenya will divest 65% of its shares in KPC, while retaining 35%. The move forms part of a broader regional investment strategy aimed at strengthening shared ownership of strategic infrastructure.
“I want to thank you, Mr President, for agreeing to work with us. The ministers were in Nairobi last week, and I have provided guidance on the need for Uganda and Kenya, both public and private, to jointly own KPC,” Ruto said. He emphasized that KPC is not just a Kenyan facility but a regional asset, highlighting Uganda’s preparedness to co-invest.
Ruto encouraged East Africans to participate once the shares are publicly listed, noting that wider participation would diversify earnings and enhance regional economic cooperation.
The President also revealed plans for additional joint investments, including extending the pipeline from Eldoret through Kampala to the border with Rwanda and the DRC. This initiative is already at an advanced stage, with both governments co-investing to improve regional logistics.
In infrastructure development, Ruto announced that in January, Kenya will launch the extension of the Standard Gauge Railway (SGR) from Naivasha to Kampala, linking it with the Malaba-Kampala line and further enhancing connectivity to the DRC.
Ruto’s remarks come amid recent debate over territorial and maritime access, sparked by Museveni’s comments on Uganda’s need for guaranteed sea access. Ruto clarified that Museveni’s statements aimed to promote regional connectivity and were misrepresented by some media outlets.
The KPC privatisation through an Initial Public Offering is expected to conclude by March 31, 2026, following parliamentary approval in October 2025, with Kenya seeking to balance national ownership while fostering regional investment.
