Ruto defends Sh42bn Kenya Pipeline share transfer, says deal signals investor confidence
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Originally published by News – Capital FM — Read the original article →
NAIROBI, Kenya, Oct 20 – President William Ruto has defended the transfer of 4.5 billion shares in Kenya Pipeline Company (KPC) from public entities to private investors, saying the transaction reflects growing confidence in Kenya’s capital markets and will help mobilize funds for strategic infrastructure.
Speaking during the Mashujaa Day celebrations in Eldoret, Uasin Gishu County, on Tuesday, Ruto said the transaction marked another step in the government’s efforts to attract private capital into key sectors of the economy.
“Just yesterday, in a demonstration of confidence in our growing capital markets, private investors acquired a 25 percent stake in Kenya Pipeline from public entities, marking another step in mobilizing private capital for strategic infrastructure,” Ruto said.