President William Ruto has announced that Kenya and Uganda will jointly own shares in the Kenya Pipeline Company (KPC) once its ongoing privatisation process is finalised.
Speaking during an investment tour in Uganda on Sunday, Ruto said the government plans to list KPC shares on the Nairobi Securities Exchange (NSE), opening the door for Uganda and other regional investors to buy into the company.
He noted that both countries recently ratified new cooperation agreements following a joint ministerial meeting in Nairobi, paving the way for shared ownership of the strategic pipeline infrastructure.
“I want to thank you, Mr President, for agreeing to work with us… Uganda and Kenya, both public and private, will jointly own the Kenya Pipeline Company,” Ruto said during the event attended by Ugandan President Yoweri Museveni.
According to Ruto, Kenya will divest 65 per cent of its stake in KPC as part of the privatisation plan, while retaining 35 per cent. Uganda is expected to invest as a co-owner once the shares are publicly available.
He urged citizens across East Africa to participate in the share offering when it opens, saying broader ownership will strengthen regional cooperation and boost earnings from key energy infrastructure.
Ruto also revealed that joint investments in the petroleum pipeline running from Eldoret through Kampala and toward the Rwanda and DRC borders are at an advanced stage. Kenya has already approved a co-investment framework to extend the line and improve regional fuel supply.
In addition, the President announced that Kenya and Uganda will in January launch the extension of the Standard Gauge Railway (SGR) from Naivasha to Kampala, connecting with the Malaba-Kampala line and further into the DRC. The project aims to enhance transport, logistics, and regional integration.
Ruto’s remarks come days after comments by President Museveni on maritime access sparked debate in both countries. Museveni had warned of challenges landlocked nations face in accessing the Indian Ocean for trade. Ruto dismissed reports of tension, saying Museveni’s statements had been misrepresented and were meant to highlight the need for improved regional connectivity.
And reacting on the relationship between the two nations, President Yoweri Museveni said, Africa is lucky to have Ruto in-charge of Kenya. He lauded the Kenyan head of State by describing him as a true ‘PanAfricanist’.
The privatisation of KPC is being carried out through an Initial Public Offering (IPO) expected to conclude by March 31, 2026. Parliament approved the process in October 2025.