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The offer opens ownership of one of the country’s most strategic energy assets to local, regional, and international investors, with 5% of the shares reserved for employees under an Employee Share Ownership Plan (ESOP).
In a petition filed at the Milimani Law Courts on Friday, January 2, 2026, Omtatah, alongside CFE Bernard Muchiri Muchere and Naomi Nyakerario Misati, is challenging the government’s plan to sell 65 per cent of KPC through an Initial Public Offering (IPO) by March 2026.
Speaking in Tororo, Uganda, on November 23, 2025, during the groundbreaking ceremony for the Devki Mega Steel Plant, Ruto said the deal was agreed upon during a joint ministerial meeting in Nairobi last week.
National Treasury is proposing to sell a 65 per cent stake in the state-owned petroleum infrastructure giant
President Ruto said the move is part of a broader strategy to expand the country’s capital markets and attract private investment into key state-owned enterprises.
Justice Mwita said the law was passed without proper public involvement, and the proposed sale of the KICC violated the Constitution and existing heritage laws.