Energy, Oil & GasThe Big Story

UNOC Paid UGX 918 Billion for Kenya Pipeline Shares UNOC’s UGX 918bn stake secures a 20.15% strategic holding in Kenya Pipeline Company, plus tariff veto rights and board influence to protect Uganda’s fuel supply chain.

Uganda National Oil Company (UNOC) invested over UGX 918 billion in the recently concluded initial public offering (IPO) of Kenya Pipeline Company (KPC), marking one of the region’s largest state-linked cross-border infrastructure transactions this year. UNOC confirmed that it acquired 31% of the shares offered to the public in the IPO, which closed on Tuesday. The acquisition translates into an effective 20.15% shareholding in KPC. The remaining 35% of KPC that was not floated was retained by the government of Kenya. This means UNOC now controls close to a quarter of the overall shareholding in the pipeline company, positioning it…

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About the Author

Paul Murungi is a Ugandan Business Journalist with extensive financial journalism training from institutions in South Africa, London (UK), Ghana, Tanzania, and Uganda. His coverage focuses on groundbreaking stories across the East African region with a focus on ICT, Energy, Oil and Gas, Mining, Companies, Capital and Financial markets, and the General Economy.

His body of work has contributed to policy change in private and public companies.

Paul has so far won five continental awards at the Sanlam Group Awards for Excellence in Financial Journalism in Johannesburg, South Africa, and several Uganda national journalism awards for his articles on business and technology at the ACME Awards.

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