Dangote confirms buying about a quarter of Kenya Pipeline for Sh42.5 billion
The shares came from state bodies including NSSF, and Kiharu MP Ndindi Nyoro is demanding to know how the sale was decided.
Based on reporting by Kenyans.co.ke and The Kenya Times.
The Dangote refinery at Lekki, Lagos, Nigeria. File photo, 2026. Photo: FrankvEck / Wikimedia Commons, CC BY-SA 4.0, cropped
Nigerian billionaire Aliko Dangote has confirmed that his group bought about 25% of Kenya Pipeline Company (KPC) for about Sh42.5 billion. He announced the investment at the Financial Times Africa Summit in London on Wednesday.
The roughly 4.5 billion shares were sold in a block trade at between Sh9.02 and Sh9.36 each. They had been held by state institutions, including the National Social Security Fund and the Unclaimed Financial Assets Authority, which bought into KPC during its public share sale earlier this year.
Kiharu MP Ndindi Nyoro has questioned who decided the sale and whether the selling institutions got fair value. He alleges the shares were sold at a loss once costs are counted. These are his claims and have not been independently verified.
President William Ruto has defended the deal, saying it shows investor confidence in Kenya's capital markets. Buying 25% or more of a listed company normally requires notifying the Capital Markets Authority.
