President William Ruto plans to sell shares of Kenya Pipeline Company on the stock market next year. He made this announcement during a ceremony at the London Stock Exchange. The government wants to privatize major state companies to bring more investors to Kenya. Local and international buyers will have chances to invest in the pipeline business.
Ruto says the move will boost confidence among people who want to put money into Kenyan companies. The president described a careful plan to prepare government assets for public trading. He believes capital markets help African countries grow their economies faster. Money from investors can fund infrastructure projects and create new industries across the continent.
The Nairobi Securities Exchange performed better than other African stock markets last year according to international reports. Ruto credits new leadership and fresh strategies for this success. He thanked Britain for supporting Kenya's financial market development over many decades. Special programs backed by UK groups are helping African markets become more transparent.
Treasury Secretary John Mbadi first suggested listing the pipeline company earlier this year. Kenya Pipeline Company paid the government over 10 billion shillings in dividends during the past twelve months. Mbadi thinks public trading will give the company money needed for regional expansion. Ordinary Kenyans could buy shares and become part owners of the profitable pipeline business.
Ruto says the move will boost confidence among people who want to put money into Kenyan companies. The president described a careful plan to prepare government assets for public trading. He believes capital markets help African countries grow their economies faster. Money from investors can fund infrastructure projects and create new industries across the continent.
The Nairobi Securities Exchange performed better than other African stock markets last year according to international reports. Ruto credits new leadership and fresh strategies for this success. He thanked Britain for supporting Kenya's financial market development over many decades. Special programs backed by UK groups are helping African markets become more transparent.
Treasury Secretary John Mbadi first suggested listing the pipeline company earlier this year. Kenya Pipeline Company paid the government over 10 billion shillings in dividends during the past twelve months. Mbadi thinks public trading will give the company money needed for regional expansion. Ordinary Kenyans could buy shares and become part owners of the profitable pipeline business.
