The national treasury has revoked Kenya Pipeline Company’s designation as a national government entity, effectively removing it from the list of state-owned enterprises, following the completion of its initial public offer (IPO). In the IPO, the government divested a 65 percent stake in the firm for 106.7 billion shillings, as part of government efforts to raise seed capital for the national infrastructure fund. As Jimmy Mbogoh now reports the move, transitions kpc into a publicly listed company, devoid of the Public Finance Management Act restriction, which governs public entities.
