The Government has officially marked the closure of the Kenya Pipeline Company (KPC) Initial Public Offer (IPO), depositing the proceeds from the sale into the National Infrastructure Fund (NIF), a significant step towards innovative development financing for the country.

Speaking during the handover of a dummy cheque representing the total IPO proceeds, The Cabinet Secretary, National Treasury and Economic Planning, Hon. John Mbadi, EGH, noted the milestone is a demonstration of prudent public asset management, efficient constitutional oversight, and a strategic response to a constrained fiscal space.

The CS who was accompanied by the Principal Secretary, Public Investments and Assets Management Mr. Cyrell Wagunda, observed that NIF is expected to play a central role in financing Kenya’s development agenda by unlocking large-scale private sector capital to fund national projects.

“NIF is the engine to scale up and accelerate development of catalytic national infrastructure, including national highway and railway networks, air and seaports, electricity generation, transmission and distribution, irrigation and agribusiness infrastructure,” the CS stated.

CS Mbadi expressed optimism that the country is well-positioned to progress into a new phase of economic growth. Further underscoring the importance of building on current reforms to drive inclusive development, creating more opportunities, and steering the country towards prosperity and global competitiveness.

Also in attendance were Mr. Lawrence Kibet, Director General, Public Investments & Portfolio Management, Dr. Janerose Omondi, Ag. Managing Director/CEO of the Privatization Authority and other senior government officials.