NAIROBI, Kenya, Jan 23 – President William Ruto has encouraged Kenyans to buy shares in the Kenya Pipeline Company (KPC) Initial Public Offer (IPO) dismissing critics who have questioned the process together with that of the Safaricom diverstiture.
Speaking during a public engagement with Affordable Housing Program interns on Friday, President Ruto emphasized that the IPO and diverstiture were transparently undertaken under the supervision of the Capital Markets Authority (CMA), ensuring fairness and accountability.
“The process was open, transparent, and fully regulated by CMA,” the President said. “I urge Kenyans to take advantage of this opportunity to become shareholders in two of the country’s key companies and participate in wealth creation.”
President Ruto’s remarks come amid public debate over privatization and share allocation processes, with some critics alleging preferential treatment.
He reaffirmed that the IPOs were conducted according to legal and regulatory requirements, highlighting their role in promoting citizen participation in the economy.
The Kenya Pipeline and Safaricom IPOs are expected to broaden ownership and provide ordinary Kenyans with direct investment opportunities in strategic sectors.
