Business
KPC meets investors in Kampala to share growth plans
The government, through the Uganda National Oil Company (UNOC), holds about 20.15% of KPC. This makes Uganda one of the largest shareholders, alongside the Kenyan government (35%) and Aliko Dangote-linked interests, among others.
Pius Mwendwa, acting managing director of Kenya Pipeline Company (KPC), while speaking to shareholders at Mestil Hotel in Kampala. (Photo by Ali Twaha)
By: Ali Twaha, Journalist @New Vision
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Kenya Pipeline Company (KPC) met shareholders, regulators, fund managers and other stakeholders on November 6 at Mestil Hotel in Kampala. The briefing covered the company’s latest results and its plans to grow across the region.
The government, through the Uganda National Oil Company (UNOC), holds about 20.15% of KPC. This makes Uganda one of the largest shareholders, alongside the Kenyan government (35%) and Aliko Dangote-linked interests, among others.
Pius Mwendwa, acting managing director, said that KPC wants to raise its annual revenue to KSh 68b (about sh2.14 trillion) by the 2030 financial year. He said the company is looking at more pipeline work, fibre connectivity, LPG storage and oil and gas trading to get there.
Pius Mwendwa, acting managing director, said that KPC wants to raise its annual revenue to KSh 68b (about sh2.14 trillion) by the 2030 financial year. He said the company is looking at more pipeline work, fibre connectivity, LPG storage and oil and gas trading to get there.
“Our investment case is anchored on expanding the Eldoret–Kampala–Kigali pipeline corridor, growing our fibre infrastructure and connectivity business, developing bulk LPG storage and bottling facilities and positioning ourselves to tap into emerging regional oil and gas trading opportunities,” he said.
Anthony Ndegwa, KPC’s acting chief finance officer, said the Group revenue rose 9% to KSh 43b (about sh1.35 trillion), up from KSh 39.5b (about sh1.24 trillion) the year before. Profit after tax grew 13% to KSh 11.58b (about sh364.5b).
To reach the 2030 target, KPC is adding storage tanks in Nakuru, Eldoret and Kisumu under its Western Capacity Enhancement Programme. It is also working on higher pipeline flow rates and better connections between tanks.
Anthony Ndegwa, KPC’s acting chief finance officer, said the Group revenue rose 9% to KSh 43b (about sh1.35 trillion), up from KSh 39.5b (about sh1.24 trillion) the year before. Profit after tax grew 13% to KSh 11.58b (about sh364.5b).
To reach the 2030 target, KPC is adding storage tanks in Nakuru, Eldoret and Kisumu under its Western Capacity Enhancement Programme. It is also working on higher pipeline flow rates and better connections between tanks.