Ruto defends Sh42bn Kenya Pipeline share transfer, says deal signals investor confidence

NAIROBI, Kenya, Oct 20 – President William Ruto has defended the transfer of 4.5 billion shares in Kenya Pipeline Company (KPC) from public entities to private investors, saying the transaction…

Speaking during the Mashujaa Day celebrations in Eldoret, Uasin Gishu County, on Tuesday, Ruto said the transaction marked another step in the government’s efforts to attract private capital into key sectors of the economy.

“Just yesterday, in a demonstration of confidence in our growing capital markets, private investors acquired a 25 percent stake in Kenya Pipeline from public entities, marking another step in mobilizing private capital for strategic infrastructure,” Ruto said.

“These developments will strengthen our energy sector, attract investments and create new opportunities for the Kenyan economy.”

The President’s remarks come amid market scrutiny over the transfer of 4.5 billion KPC shares valued at approximately Sh42 billion, with the identities of the investors involved yet to be publicly disclosed.

Source: Capital FM