President Ruto: I will ring the bell tomorrow at NSE

President William Ruto at State House on March 9 /PCS

President William Ruto has announced that he will ring the bell tomorrow at the Nairobi Securities Exchange (NSE) to mark the completion of the Kenya Pipeline Company Initial Public Offering (IPO).

The move is expected to raise Sh106 billion to seed the National Infrastructure Fund.

Ruto said the milestone will fulfil a key promise contained in the Kenya Kwanza manifesto to establish a dedicated fund for financing major infrastructure projects without overburdening the national budget.

He said the completion of the Kenya Pipeline IPO will provide the fund with its initial capital base, enabling it to begin operations and support priority infrastructure programs across the country.

“And tomorrow in the morning at eight, I will be at the NSE to ring the bell to complete the privatisation of the Kenya Pipeline IPO and raise Sh106 billion that will be the seed money for the National Infrastructure Fund,” the President stated.

Ruto explained that the government had long envisioned creating a financing mechanism that would allow commercially viable infrastructure projects to be supported through alternative funding sources rather than relying solely on public funds.

“I couldn't put it much more clearly and succinctly than it is stated in our manifesto. And I want to quote for you. This is a manifesto written four years ago,” the President said.

President William Ruto speaking during the assent to the National Infrastructure Fund bill in front of captains of industry from Kenya, Africa and the world. in State House on March 9, 2026./PCS

He added that the document clearly outlined the government's intention to set up the fund through proceeds generated from privatisation initiatives.

“An infrastructure fund, I quote, will be established with initial capitalisation from privatisation proceeds, with a view to progressively reducing financing of commercially viable infrastructure projects from the budget,” Ruto said, reading from the manifesto.

According to the Head of State, the listing of Kenya Pipeline Company on the NSE represents the first major step toward achieving that goal.

“Today, we are doing exactly that. The National Infrastructure Fund is here,” he said.

The National Infrastructure Fund is expected to finance projects such as roads, energy infrastructure, ports and other large-scale developments that support economic growth. By channeling private investment into these projects, the government seeks to reduce pressure on public finances while accelerating development.

He said while the outcome might appear unusually precise, it reflects years of planning and policy commitments made by the administration.

“It looks too exact to be real, but that is what it is,” Ruto said.

The government believes the establishment of the National Infrastructure Fund will attract both local and international investors while creating a more sustainable financing model for Kenya’s development agenda.

The bell-ringing ceremony at the NSE will formally mark the conclusion of the privatisation process and signal the beginning of a new financing approach for infrastructure development in Kenya.