Speaking at a Nairobi Hotel, Kenya’s Cabinet Secretary for  National Treasury and Economic Planning FCPA John Mbadi said the Overview is aligned to the Kenya’s Government’s Bottom-up Economic Transformation Agenda (BETA) as well as Government’s efforts to put in place policies geared towards deepening the private sector economic participation to accelerate economic development.

“I take this opportunity to appreciate all the Petroleum Institute of East Africa (PIEA)’s members who play a very critical role in the economic development of our country and the entire East Africa Community (EAC) through employment creation, contribution to tax revenues for the Government and supporting capacity building of upstream, midstream, and downstream activities within the region” Said Mbadi.

Ladies and gentlemen, The Cabinet Secretary said that the proposed listing of Kenya Pipeline Corporation KPC in the Stock Exchange has received very positive attention from the Industry Players “As part of a broader effort to improve public finances, this proposal is aimed at bolstering our fiscal sustainability. We believe that privatization vide an IPO will not only stimulate improvements in economic efficiency, but will also enhance the economy’s performance and thereby produce long-term economic sustainability of the Company” Mbadi. Adding that, it will also offer the much needed relieve to the country by providing an alternative source of funding away from debt and taxation.

The CS in closing remarks said the Government’s commitment to the petroleum subsector’s growth and development is at the highest considerations. “I would like to express much appreciation to all participants for their engagement and support. Towards this end, the National Treasury and Economic Planning looks forward to receiving concrete suggestions and proposals on how we can partner and collaborate in building this Nation together,” said the CS.

Kenya Commercial Bank a valuable Partner represented by KCB Kenya Managing Director Mrs.Annastacia Kimtai who said KBC will continue to partner and support the Petroleum Industry in Kenya “We have strategically positioned ourselves as a dependable partner in enabling sector growth, de-risking energy investments and fostering transparency across value chain” Said Kimtai.
The MD added that “our approach blends large scale financing with robust risk mitigation tools to support not only stability but also long-term investment confidence”.