The cabinet has approved the sale of the Kenya Pipeline Company (KPC), in a move that will see the company's shares listed at the Nairobi Securities Exchange (NSE).
The approval made during a cabinet meeting on Tuesday, July 29, continues the privatisation process that President William Ruto's government has been adamant is necessary to reduce the state's budgetary allocation to the corporations.
According to the dispatch, the privatisation of KPC will enable "the private sector and industry experts to drive growth, efficiency, and innovation." Effectively, some of the government shares in KPC are now set to be sold to private investors, and the company will be listed on the Nairobi Securities Exchange (NSE), where Kenyans can buy shares and become part-owners of the lucrative company.
A Kenya Pipeline Company fuel reservoir.
