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Uganda bought a 20% stake in Kenya’s fuel pipeline for $255 million to secure energy control.
Uganda has acquired a 20.15% stake in Kenya’s Kenya Pipeline Company (KPC) for $255 million, securing a strategic foothold in the regional fuel infrastructure critical to its energy supply.
The purchase, led by Uganda’s National Oil Company, follows KPC’s successful IPO, which raised $106.7 billion and saw 105.7% subscription, with 21.22% of shares bought by East African investors, primarily from Uganda and Rwanda.
The investment grants Uganda influence over pipeline operations, pricing, and planning, addressing its prior lack of control over nearly all imported fuel.
KPC is set to list on the Nairobi Securities Exchange, with proceeds funding national infrastructure projects.
While the IPO was hailed as a success, concerns remain over the transparency of the National Infrastructure Fund and the long-term financial viability of the stake.
Uganda compró una participación del 20% en el oleoducto de combustible de Kenia por 255 millones de dólares para asegurar el control de la energía.