Kenya Pipeline Company to Fuel Airport Expansion Through IPO

Kenya plans to use up to 20 billion shillings from an IPO of the Kenya Pipeline Company to expand Nairobi's main airport, announced President William Ruto. The funds aim to enhance infrastructure and accommodate growing air traffic, bolstering the nation's transport sector.

Kenya is set to channel up to 20 billion shillings, equivalent to $155 million, into the expansion of Nairobi's primary airport. This funding will be sourced from an initial public offering of shares in the Kenya Pipeline Company, as announced by President William Ruto on Monday.

The move is anticipated to significantly enhance the infrastructure at Jomo Kenyatta International Airport, facilitating the increasing air traffic and boosting the nation's connectivity.

President Ruto's announcement underscores the government's commitment to leveraging public-private partnerships in fortifying the transport sector.

(With inputs from agencies.)