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Govt injects sh914b in Kenya oil pipeline shares
“Cabinet had already authorised the borrowing of $2b (sh7.16 trillion), and Parliament approved the loan. Of the total loan, $800m (about 2.864 trillion) was to go towards road construction, and the rest was for the ministry of energy and UNOC that had lined up projects, including buying of shares from KPC. So, we planned ahead, and we have the money,” Nankabirwa said.
A team of staff from UNOC and KPC touring the Kisumu Jetty area in Kenya. Uganda is set to become a large shareholder in the Kenya Pipeline Company.
By: Nelson Mandela Muhoozi and Martin Kitubi, Journalists @New Vision
KAMPALA - Cabinet has approved the participation by the Government of Uganda in the Initial Public Offering (IPO) to secure a 20.15% strategic shareholding in the Kenya Pipeline