President William Ruto has announced that Kenya and Uganda will jointly hold shares in the Kenya Pipeline Company (KPC) once the privatisation process is completed.
Speaking on Sunday during an investment tour in Uganda, Ruto said the government will publicly list KPC shares on the Nairobi Securities Exchange, allowing Uganda and other regional investors to participate.
“There is no cause for alarm,” Ruto reassured, noting that both countries recently ratified new cooperation frameworks during a joint ministerial meeting in Nairobi. The agreements include joint ownership of KPC, a key regional infrastructure previously slated for privatisation.
“I want to thank you, Mr President, for agreeing to work with us. The ministers were in Nairobi last week, and I have given guidance on the need for Uganda and Kenya, both public and private, to jointly own KPC,” Ruto said.
He added that the Kenyan government will divest 65 percent of its stake, opening the door for regional investors. “The government of Uganda is prepared to co-invest with us because KPC is not just a Kenyan facility but also a regional facility,” he said.
Ruto encouraged Ugandans and other East Africans to invest once the shares are publicly listed, saying broader participation would diversify earnings and strengthen shared ownership of strategic assets.
The President also disclosed that a joint pipeline project from Eldoret through Kampala to the Rwanda-DRC border is at an advanced stage, with Kenya approving a plan for co-investment to extend the line for regional benefit.
In addition, Ruto announced that the government will launch the extension of the Standard Gauge Railway (SGR) from Naivasha to Kampala, connecting it to the existing line from Malaba to Kampala and onward to the DRC. “The two governments will coordinate this to improve transport and logistics and enhance regional integration,” he said.
On regional relations, Ruto dismissed reports suggesting tensions with Uganda over access to the Indian Ocean. He criticized media outlets for exaggerating the situation, stating: “Let me assure the naysayers that Uganda and Kenya are brothers and sisters.”
Earlier this month, media reports claimed that Uganda was seeking uninterrupted access to the Indian Ocean and allegedly considering building a navy. Ruto’s remarks appear aimed at calming fears of a regional dispute.
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