Ndindi Nyoro Claims Ruto Used Secret Links to Acquire 25% Stake in KPC Worth KSh42 Billion

Kiharu Member of Parliament Ndindi Nyoro has raised questions over the multibillion-shilling sale of Kenya Pipeline Company (KPC) shares, alleging that President William Ruto may have had undisclosed interests in the transaction involving a private investor.

The claims follow a major share transfer on October 19, 2026, involving 4.5 billion KPC shares valued at approximately KSh42 billion. The transaction represented about 24.76 per cent of the company’s ownership and involved shares previously held by state-owned institutions.

Nyoro alleged that Ruto had initially urged chief executives of public institutions, including the National Social Security Fund (NSSF) and Public Service Superannuation Fund (PSSF), to purchase the shares despite concerns from their professional teams.

The legislator further claimed that the officials were later directed to sell the shares to an unnamed private investor. He said the shares were traded at between KSh9.02 and KSh9.36 each, with the sale structured to allow the buyer to benefit from dividends.

Nyoro also questioned the identity of the investor, alleging that the company involved had links to the President’s private interests. He argued that the arrangement could generate financial benefits for the buyer while exposing public institutions to losses.

The allegations have not been independently verified, and the identity of the private investor remains a central question surrounding the transaction.

The debate intensified after Ruto defended the share transfer during the Mashujaa Day celebrations in Eldoret on October 20. The President described the transaction as a sign of growing confidence in Kenya’s capital markets, arguing that private investment would help mobilise funds for strategic infrastructure development.

KPC was listed on the Nairobi Securities Exchange on March 9, following an initial public offering conducted between January 19 and February 24.

Nyoro’s claims have intensified scrutiny of the transaction, particularly over transparency, accountability and the management of investments held by public institutions.

https://citizen.digital/article/ndindi-nyoro-claims-president-ruto-is-arm-twisting-parties-in-sale-of-kpc-shares-n392448