Ruto Hails NSE Recovery, Unveils Plan to List Kenya Pipeline Company

President William Ruto has announced the government’s plan to list Kenya Pipeline Company (KPC) shares at the Nairobi Securities Exchange (NSE), subject to Cabinet and parliamentary approval. The President said the move is aimed at eliminating inefficiencies and improving governance in the state corporation.

If approved, KPC will join the ranks of other successful listed state-owned enterprises such as Safaricom, Kenya Electricity Generating Company (KenGen), and Kenya Commercial Bank (KCB).

“While other nations in the region have moved boldly and strategically to divest and reinvigorate their economies, Kenya has not undertaken a single privatisation in over a decade,” Ruto noted.

The President made the announcement during a bell-ringing ceremony at the NSE to mark the listing of the Linzi 003 Infrastructure Asset-Backed Security—the first of its kind in Kenya. The bond, which raised over KSh44 billion, will fund the development of Talanta Sports City Stadium, the country’s first large-scale international stadium project in more than 40 years.

“This modern, world-class complex is designed to host global tournaments, foster local talent, and restore Kenya’s reputation as a sporting powerhouse,” Ruto stated.

The infrastructure bond was issued by Linzi Finsco 003 Trust, a subsidiary of Liaison Group, a financial services firm specialising in risk and insurance as well as pension administration.

Ruto highlighted the strong recovery of the NSE, noting that the market capitalisation now stands at KSh2.5 trillion. He attributed the recovery to the soundness and consistency of his administration’s economic policies.

“Local and international investors are looking at Kenya with fresh optimism and renewed trust,” he said. He cited his recent visit to London, where global firms including Lloyd’s of London, Bupa International, Africa Speciality Risk, and Africa Finance Corporation pledged investments in Kenya.

Reaffirming his dedication to fulfilling the Kenya Kwanza manifesto, Ruto said: “The pledges I made to Kenyans are being realised one by one, day by day, pledge by pledge. And I remain committed to fulfilling every single one of them.”

He cited low inflation, a stable shilling, and growing foreign exchange reserves as key indicators of economic stability and growth. Kenya, he said, has moved up to become the sixth largest economy in Africa, from eighth two years ago.

Ruto also addressed his critics: “The critics may say I am wrong. The cynics may say I am lying. And the naysayers may even say I am mad. But what if they are all wrong – and they are.”

Among those present at the function were Cabinet Secretaries John Mbadi (National Treasury), Soipan Tuya (Defence), NSE Chairman Kiprono Kittony, Liaison Group CEO Tom Mulwa, and other key stakeholders in the capital markets.

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Ruto Hails NSE Recovery, Unveils Plan to List Kenya Pipeline Company