CS Mbadi revokes KPC status as a parastatal

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Treasury Cabinet Secretary John Mbadi has degazetted Kenya Pipeline Company (KPC) as a parastatal, paving the way for the completion of its sale process.

In a special gazette notice dated April 22, 2026, Mbadi revoked the declaration of KPC as a national government entity in line with his legal mandate.

“IN EXERCISE of the powers conferred by section 4 (1) of the Public Finance Management Act, as read with regulation 211 (7) of the Public Finance Management (National Government) Regulations, the Cabinet Secretary for the National Treasury revokes the declaration of Kenya Pipeline Company as a National Government Entity as declared under Schedule II of the Declaration of the National Government Entities (State Organs) published as Legal Notice No. 33 of 2015,” the notice reads.

Mbadi’s move comes ahead of today’s event where the Privatization Authority is expected this morning to hand over proceeds from the KPC IPO, marking the conclusion of the share sale and transfer of funds to the state.

The CS, alongside officials from the Privatisation Authority and KPC, will preside over the ceremony ushering a new era of the entity into private hands.

The government moved to sell off a 65 per cent stake in KPC, or an equivalent of 11.8 billion shares, as the state expressed optimism that the privatisation of the firm will unlock more value by enhancing its efficiency.

President William Ruto on Tuesday, March 10, rang the bell at the Nairobi Securities Exchange (NSE) to mark the official listing of the KPC on the bourse. The KPC IPO, which ran from January 19, 2026, to February 24, 2026, raised Sh106 billion.

“The Kenya Pipeline Company IPO is the first privatization listing in nearly two decades at this bourse, the previous one being Safaricom, which was listed in June 2008,” said Ruto.

The government said the proceeds from the sale will go towards the National Infrastructures Fund to support the country’s ambitious development projects.

“Unlike previous privatization proceeds that were absorbed in the general government budget, the proceeds of this IPO, as well as future privatization, will provide capital to the National Infrastructure Fund, which I signed into law yesterday,” the president said at the NSE event.

According to details released during the ceremony, the KPC IPO was oversubscribed by 105.7 percent, showing strong demand from investors who sought a stake in the energy infrastructure firm.