Kenya Pipeline Sale: MPs Poke Holes Into Govt Push to Privatise KPC, Question Its KSh 120b Value
- President William Ruto's administration announced plans to privatise the Kenya Pipeline Company (KPC)
- The National Treasury projected to raise KSh 100 billion from the listing of KPC under the initial public offering (IPO)
- Members of Parliament (MPs) questioned the value of the company presented by KPC and the Ministry of Energy
CHECK OUT: How to Start Earning with Copywriting in Just 7 Days – Even if You’re a Complete Beginner
Wycliffe Musalia has over six years of experience in financial, business, technology, climate, and health reporting, providing deep insights into Kenyan and global economic trends. He currently works as a business editor at TUKO.co.ke.
Members of Parliament (MPs) continue to grill the government over its plans to sell majority stakes in the Kenya Pipeline Company (KPC).
Source: Twitter
On Tuesday, August 12, the second day of the Parliamentary Group Meeting of Public Debt, Energy, and Privatisation, the MPs questioned relevant authorities in the deal, including the Ministry of Energy, the Capital Markets Authority (CMA) and the Nairobi Securities Exchange (NSE).
What MPs sought to know about KPC listing
The lawmakers poked holes in the deal that seeks to raise over KSh 100 billion to the exchequer.
Search option is now available at TUKO! Feel free to search the content on topics/people you enjoy reading about in the top right corner ;)
Zachary Thuku, a member Public Debt Committee, demanded to know the exact value of the company's assets.
"You cannot tell us that the assets of KPC is KSh 120 billion, yet we know a single line costs about KSh 60 billion," said the Kinangop MP.
The MPs vowed to carry out a valuation of the company to determine its true value, dismissing the company's book report presented to parliament.
What govt said about sale of KPC
Defending the course, Energy Cabinet Secretary (CS) Opiyo Wandayi maintained that the government seeks to exploit the full potential of the company through privatisation.
Source: UGC
Wandayi emphasised that the country will benefit from the sale of its shares at the fuel distributor.
"KPC is such a huge enterprise that if we exploit its potential to the fullest through privatisation, we will gain the most as a country," said Wandayi.
The Cabinet Secretary added that public participation will be handled by the relevant agencies.
On their part, CMA and NSE said they will only list KPC following the approval of parliament, as part of the requirement for the initial public offering (IPO).
The National Treasury sought to raise funds through the listing of KPC under IPO for budgetary support.
Treasury Cabinet Secretary (CS) John Mbadi said the move of part of the government reforms to raise funds for economic development.
Why govt plans to sell KPC
In July 2025, President William Ruto's Cabinet endorsed the listing of the fuel distributor at the Nairobi Securities Exchange (NSE), joining other firms like Safaricom.
The Cabinet gave the green light for the reinstatement of KPC into the privatisation programme, allowing partial divestiture of government shares.
It noted that the decision reflects the government’s policy enabling the private sector and industry experts to drive growth, efficiency, and innovation.
It also said the divestiture intends to shift the company from state dominance in commercial enterprises and allow operational discipline and accountability.
Source: TUKO.co.ke
