Kenya Moves Forward with KPC Privatization Despite Pricing Concerns
Energy and Petroleum Cabinet Secretary Opiyo Wandayi has dismissed fears that Kenya Pipeline Company’s planned privatization will destabilize local fuel prices, assuring lawmakers that existing regulatory frameworks will maintain price stability.
Speaking before the National Assembly during consideration of the privatization proposal, Wandayi emphasized that petroleum prices will continue to be regulated by the Energy and Petroleum Regulatory Authority through its established three-year tariff model.
The government plans to divest 65 percent of its stake in the strategic energy utility, valued at approximately 120 billion shillings, while retaining 35 percent ownership. The Treasury expects to raise around 100 billion shillings from the initial public offering, with plans to offer shares to KPC employees ahead of the September listing on the Nairobi Securities Exchange.
Source: capitalfm.co.ke
