CS Mbadi revokes Kenya Pipeline Company (KPC) status as a government parastatal
Treasury Cabinet Secretary John Mbadi has revoked the Kenya Pipeline Company (KPC)’s designation as a national government entity.
Treasury Cabinet Secretary John Mbadi has revoked the Kenya Pipeline Company (KPC)’s designation as a national government entity.
CS Mbadi revoked KPC’s status as a parastatal in a special gazette notice dated Wednesday, April 22.
“In exercise of the powers conferred by section 4 (1) of the Public Finance Management Act, as read with regulation 211 (7) of the Public Finance Management (National Government) Regulations, the Cabinet Secretary for the National Treasury revokes the declaration of Kenya Pipeline Company as a National Government Entity as declared under Schedule II of the Declaration of the National Government Entities (State Organs) published as Legal Notice No. 33 of 2015,” read the notice.
The revocation of KPC’s status as a national government entity follows the completion of its privatization.
The government sold its 65 percent stake in the pipeline company while retaining 35 percent.
The KPC IPO, which ran from January 19, 2026, to February 24, 2026, raised Ksh106 billion with the IPO priced at Ksh9.00 per offer share.
On March 10, President William Ruto presided over the listing of KPC at the Nairobi Securities Exchange (NSE).
Speaking during the bell-ringing ceremony, President Ruto noted that KPC is the first privatized entity to be listed on the NSE in nearly 20 years.
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The Head of State mentioned that the previous listing was Safaricom PLC, which joined the bourse in 2008.
“The Kenya Pipeline Company IPO is the first privatization listing in nearly two decades at this bourse, the previous one being Safaricom, which was listed in June 2008,” said Ruto.
The President said the proceeds of the KPC IPO will provide the capital base for the National Infrastructure Fund (NIF).
“Unlike previous privatization proceeds that were absorbed in the general government budget, the proceeds of this IPO, as well as future privatization, will provide capital to the National Infrastructure Fund, which I signed into law yesterday,” he stated.
President Ruto noted that the KPC IPO attracted over 70,000 Kenyan investors, with the governments of Uganda and Rwanda also participating.
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