Treasury gains Sh103bn from KPC IPO as control questions emerge - April 2026

The National Treasury has reportedly gained KSh103 billion following the Kenya Pipeline Company (KPC) Initial Public Offering (IPO), though this financial gain is overshadowed by emerging questions regarding the control and ownership structure of KPC. The National Treasury had previously revoked KPC's status as a national government entity, removing it from the list of state-owned enterprises after partial divestiture. Meanwhile, Central Bank of Kenya Governor Kamau Thugge sought to reassure financial markets following an increase in the government's domestic borrowing target, a move that has generated some concern among investors.