President William Ruto has set the stage for a bold shift in Kenya’s economic direction, announcing the government’s intention to list the Kenya Pipeline Company (KPC) on the Nairobi Securities Exchange (NSE). The move, still subject to Cabinet and Parliamentary approval, is part of a broader effort to revamp the performance and transparency of state-owned enterprises.
Ruto made the announcement on Wednesday during a bell-ringing ceremony at the NSE, where he presided over the listing of the Linzi 003 Infrastructure Asset-Backed Security a milestone financial instrument aimed at financing major public projects.
According to the President, listing KPC on the stock market would signal a new chapter in how the country manages its public assets. He said KPC, once listed, would join a small club of successful state-backed companies trading at the NSE among them Safaricom, KenGen, and KCB.
“This is the kind of bold, strategic step we must take,” Ruto said. “While other countries in our region have embraced privatisation to unlock growth, Kenya has been stuck. We haven’t carried out a single privatisation in more than ten years.”
The remarks come as the government ramps up efforts to improve governance in the public sector and attract private investment into long-neglected areas of the economy.
The President’s address coincided with the official launch of the Linzi 003 bond, issued by Linzi Finsco 003 Trust, a vehicle under Liaison Group. The bond raised more than Ksh 44 billion funds earmarked for the construction of the Talanta Sports City Stadium, which is poised to become Kenya’s first large-scale international stadium project in over 40 years.
The event sent a clear message: Kenya is ready to leverage capital markets more aggressively to drive public development, create jobs, and attract global interest in its economy.
If Parliament and the Cabinet give the green light, the KPC listing could become a landmark moment in Kenya’s long-delayed journey toward public sector reform and market-driven growth.
