Members of Parliament have raised concerns over the plan to privatise the Kenya Pipeline Company (KPC), a move that could earn the Kenyan government Ksh120 billion.
During a meeting with Treasury Cabinet Secretary John Mbadi, the lawmakers poked holes in the move spearheaded by President William Ruto, urging the government to prioritise curbing the wastage and mismanagement of public funds instead.
On Tuesday, July 29, the Cabinet approved the move to list Kenya Pipeline on the Nairobi Securities Exchange (NSE), after Ruto had proposed that listing the profitable institution would attract both domestic and international investment. In the move, some of the government shares in KPC would be sold to private investors, and the listing of the company on the NSE would enable Kenyans to buy shares and become part-owners of the lucrative company.
President William Ruto during a meeting with coffee stakeholders at State House Nairobi, March 26, 2025 with an insert of the Kenya Pipeline Company.
