- Kenya to privatise top-performing state firms via NSE
- President Ruto announced in London
- Kenya Pipeline Company (KPC) is among the first to be lined up for IPO
- The goal is to cut reliance on foreign debt and grow local investment
- NSE was Africa’s best performer in dollar returns for 2024
President William Ruto has revealed major reforms that will see several state-owned companies sold to the public through the Nairobi Securities Exchange (NSE). The goal, he said, is to open up new paths for economic growth by attracting both local and global investors.
He made the remarks during a special event at the London Stock Exchange, where he rang the opening bell on Wednesday morning.
Ruto stressed the need to boost domestic capital markets, explaining that a strong NSE will help limit overreliance on foreign loans and protect the country from financial shocks.
“Good markets reduce our need for risky foreign loans and create fresh chances for investment,” he said.
He also praised London’s financial system, saying Kenya will borrow ideas from such global markets to modernise and grow its exchange.
Ruto confirmed that the government will soon start listing major state companies through public share sales. First on the list is Kenya Pipeline Company (KPC), which is expected to go public before the end of the year.
“This is a rare chance for investors to put their money in one of our most important infrastructure firms,” the President noted.
Ruto was joined in London by senior officials, including Musalia Mudavadi, Treasury CS John Mbadi, Trade CS Lee Kinyanjui, and Afrexim Bank’s Benedict Oramah. They were received by London Stock Exchange CEO David Schwimmer.
This shift is part of a bigger plan to make Kenya’s capital markets more attractive, competitive, and reliable. By listing top government firms, the state hopes to raise money without borrowing, while also giving ordinary Kenyans and investors a chance to own shares in valuable public companies.
The NSE is already making headlines, recently named Africa’s top exchange in dollar gains for the year 2024.
