The Lower Eastern Times Opening The Third Eye
Two Ugandan government officials have been appointed to the Kenya Pipeline Company (KPC) Board following the Uganda National Oil Company’s (UNOC) purchase of a 20.15 percent stake in the firm earlier this year.
The newly appointed directors are Ramathan Ggoobi, Uganda’s Permanent Secretary and Secretary to the Treasury, and Irene Pauline Bateebe, Permanent Secretary at the Ministry of Energy and Mineral Development.
Their appointments come after UNOC acquired its stake in KPC following the company’s initial public offering (IPO) and subsequent listing on the Nairobi Securities Exchange (NSE).
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As a result of the transaction, the Kenyan government’s shareholding in KPC dropped from full ownership to 35 percent. Local investors — including the National Social Security Fund (NSSF) and KPC employees — now collectively hold about 41 percent of the company, while the remaining shares belong to foreign investors. The partial divestiture generated approximately Sh100 billion for the government.
In addition to the Ugandan appointments, KPC announced that Samson Kipkemboi Burgei, Meshack Otieno Kidenda, and CPA Ronald Kenyanya Nyamosi have also joined the Board.
Flora Okoth, KPC’s General Manager for Legal Services and Company Secretary, said the board was confident that the new directors’ varied experience and leadership would strengthen its oversight role and support the company’s strategic goals, long-term sustainability, and commitment to strong corporate governance standards.
