Dr. Ruth Nankabirwa Ssentamu, Minister of Energy and Mineral Development has announced that cabinet has approved the acquisition of a 20.01% stake in the Kenya Pipeline Company.
The Minister who was accompanied by the Permanent Secretary Eng. Irene Bateba and the Executive Director UNOC Ms. Proscovia Nabbanja made the announcement while speaking to the media at the Media Centre and said Uganda is making the purchase through Uganda National Oil Company.
95% of Uganda’s annual fuel imports of approximately 2.96B litres come through Mombasa via the Kenya Pipeline Company pipeline. 65% of the volumes handled by the KPC pipeline are Uganda-bound, and so acquiring a 20.01% stake is not only a strategic investment but also a game-changer for supply stability in the country.
Through this investment, UNOC has secured a strategic stake in KPC, strengthening Uganda’s access to critical petroleum infrastructure, improving supply reliability, and supporting greater efficiency across the regional supply chain. As a shareholder, UNOC will work with partners to improve operations, expand infrastructure capacity, and deepen regional energy integration.
The Kenyan Government offered 65% of KPC shares on NSE, retaining 35%. Uganda National Oil Company, the sole bulk importer, already has an existing transport deal with KPC which was inked in May 2024.
“Since Uganda alone contributes approximately 35% of KPC revenues, participating in the KPC IPO makes it a commercial & strategic must. Great win for the Nation” said Tony Otoa, Chief Corporate Officer, UNOC