Federation Warns Kenyans Against 'Misleading' Ads By Kenya Pipeline
The sale of the KPC shares, according to President William Ruto, is one of his plans to raise the Ksh5 trillion Infrastructure Fund(IF) and the Sovereign Wealth Fund(SWF), a measure meant to position Kenya to the "Singapore Status"...
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The Consumers Federation of Kenya (Cofek) has warned potential investors against participating in the Kenya Pipeline Company (KPC) Initial Public Offering (IPO) due to an ongoing legal challenge scheduled for hearing on February 19. Cofek argues the privatisation process faces strong legal hurdles, despite KPC's aggressive marketing to raise billions from Kenyan investors.
Cofek warns the IPO is subject to a legal challenge to be determined on February 19, 2026, urging extreme discretion on advertisements.
The Kenyan government is selling 11.81 billion shares, representing 65 per cent of KPC, at Ksh9 each, aiming to raise Ksh106.3 billion.
Cofek's concerns include potential irregularities in regional investor allocation, where local elites might pose as Ugandan investors to secure preferential share access, a concern echoed by Kiharu Member of Parliament Ndindi Nyoro.
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