President William Ruto has defended the government’s handling of the Kenya Pipeline Company (KPC) share transactions, saying the state will seek the best possible value for public assets and prevent brokers and wealthy investors from benefiting at the expense of ordinary Kenyans.
Speaking in Ngaie, Kitui North, on Sunday, October 25, Ruto said his administration would not allow strategic national assets to be undervalued.
The President accused some brokers and investors of opposing the transaction because they allegedly sought to acquire shares cheaply and resell them at higher prices for personal gain.
His remarks come days after reports emerged that investors had transferred KPC shares worth approximately KSh42.5 billion through the Nairobi Securities Exchange (NSE).
The transaction involved 4.5 billion shares, equivalent to 24.76 per cent of KPC’s stock, according to reports by Business Daily. The shares reportedly changed hands at KSh9.02 each, close to the KSh9 offer price during the company’s initial public offering (IPO).
The government sold a 65 per cent stake in KPC through the IPO, which opened in January and closed in February 2026. The company began trading on the NSE in March, while the government retained a 35 per cent stake.
Ruto said the government was committed to ensuring that the country and its citizens benefited fairly from the sale of public assets.
The recent share transfers have drawn attention to the ownership of KPC and the role of institutional investors in the company following its listing.
