Kenya is set to privatise key state assets through initial public offerings to attract private sector investment, President William Ruto announced Wednesday at the London Stock Exchange.
The government will begin by listing the Kenya Pipeline Company on the Nairobi Securities Exchange within the year, Ruto said.
He emphasized a structured and time-sensitive programme to identify and prepare a pipeline of government assets for privatisation or enhancement through private participation.
Ruto highlighted that strong domestic capital markets could help Kenya reduce its dependence on external debt.
The move comes after last summer’s violent nationwide protests forced Kenya to implement austerity measures and scrap planned tax hikes worth over 346 billion Kenyan shillings ($2.68 billion).
At the Africa Debate event later the same day, Ruto stressed Kenya’s goal to depend more on internal resources and private investment following shocks like the U.S. cutting USAID funding.
He revealed plans to collaborate with the private sector to supply hospital equipment under a fee-per-use model, aiming to boost healthcare infrastructure.
Kenya has already raised $1.3 billion by securitising public assets such as roads, a strategy to generate much-needed funds for development.
Ruto said the government will list some of these bonds on the securities exchange, opening investment opportunities to a wider pool of investors.
This bold strategy signals Kenya’s ambition to strengthen its financial independence while inviting private investors to share in the nation’s growth journey.
