Kenyans have until August 13 to present their views on the planned privatization of the Kenya Pipeline Company (KPC), following the formal tabling of Sessional Paper No. 2 of 2025 in Parliament.

The National Treasury is proposing to sell a 65 per cent stake in the state-owned petroleum infrastructure giant, signaling a strategic effort to reduce government control in key commercial sectors. The sessional paper has been referred to the Departmental Committee on Energy and the Public Debt and Privatization Committee, which will collect public input and present a report to guide the National Assembly’s final decision.

Treasury officials argue the move is part of wider economic reforms aimed at attracting private capital, improving operational efficiency, and boosting competitiveness in the energy sector.

The proposal also aligns with the government’s drive to liberalize state-owned enterprises (SOEs) as a way to raise domestic revenue and reduce the budget deficit.

If approved, the KPC sale would be one of the most high-profile privatizations in recent memory and could inject fresh momentum into the Nairobi Securities Exchange (NSE), which has suffered from a long lull in new listings, falling investor confidence, and poor liquidity.

Market analysts are cautiously optimistic, noting that while the move could revitalize the bourse, it also revives concerns over how past privatizations were handled. Previous government divestitures such as those of Mumias Sugar and Uchumi Supermarkets collapsed due to poor oversight, mismanagement, and alleged fraud, leaving investors with huge losses and eroding public trust in the process.

The National Treasury, however, maintains that lessons have been learned. The sessional paper argues that a well-structured divestiture backed by governance reforms, transparency, and participation from strategic investors can unlock value and ensure long-term sustainability of key infrastructure services.

As part of the public participation process, Kenyans, civil society groups, and stakeholders in the petroleum and financial sectors have been urged to submit written memoranda either physically to Parliament Buildings or via the email address provided in the public notice.

While the process of public consultation is ongoing, the proposal is already being seen as all but settled, with momentum behind it suggesting political will for execution.

If carried out transparently and backed by investor safeguards, the KPC sale could signal a major turning point for the capital markets. But as experts caution, success will depend not just on the listing itself, but on consistent policies, strong oversight, and investor trust key ingredients missing from past privatization flops.