Cabinet Approves Sale of High-Earning State Company
The President had previously hinted at surrendering the company...
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The cabinet has approved the significant step to sell a portion of the Kenya Pipeline Company (KPC), a high-earning state entity, by listing its shares on the Nairobi Securities Exchange (NSE). This move is part of President William Ruto's government's ongoing privatization efforts to reduce state budget allocations and enhance efficiency.
- The approval was made during a cabinet meeting on Tuesday, July 29.
- The privatization aims to allow the private sector and industry experts to drive growth, efficiency, and innovation in KPC.
- President William Ruto had previously hinted at the privatization, with plans to list the company's shares by September 2025.
- Other entities set for privatization include Kenya Literature Bureau (KLB), Rivatex East Africa, National Oil Corporation (NOC), and the New Kenya Cooperative Creameries (NKCC).
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Cabinet Approves Sale of Kenya Pipeline Company and Other Initiatives - July 2025
The Cabinet has approved a significant step to privatize a portion of the Kenya Pipeline Company (KPC) by listing its shares on the Nairobi Securities Exchange (NSE), as part of President William Ruto's government's privatization agenda to reduce state budget allocations and enhance efficiency. This decision, however, has sparked public outrage, with the Motorists Association of Kenya (MAK) opposing the move due to concerns over transparency and the potential threat to a vital national asset. In a related development, the Cabinet has also cleared the rollout of the World Bank-backed National Youth Opportunities Towards Advancement (NYOTA) Project, a Sh30 billion initiative aimed at supporting over 820,000 young Kenyans, despite facing significant funding challenges. Additionally, the Cabinet has approved increasing payouts to road contractors from 40 percent to 80 percent of verified claims, leveraging funds from the securitization of the Road Maintenance Levy Fund (RMLF), a measure set to unlock stalled projects nationwide.
