Ruto lures foreign investors to NSE with promise of Kenya Pipeline listing

President William Ruto  during a symbolic bell-ringing ceremony at the London Stock Exchange. [PCS]

The government has said it will sell the Kenya Pipeline Company (KPC) to private investors in the course of this year through an Initial Public Offer (IPO).

President William Ruto announced plans to privatise KPC on Wednesday during his visit to the UK. KPC, which ensures smooth flow of petroleum products in the country and the region through its network of pipelines and storage facilities, has been termed a strategic asset and many Kenyans have in the past argued against bringing on board private sector players.