A Case Challenging Sale of 24.76% Kenya Pipeline Shares to linked To Aliko Dangote’s Firm to be mentioned at the end of this month.
The Milimani High Court has directed that a petition challenging the reported sale of a 24.76 per cent stake in the Kenya Pipeline Company (KPC) to an entity associated with Nigerian billionaire Aliko Dangote be mentioned on November 30, 2026, for further directions.
In orders issued on November 10, 2026, Justice Nyaundi Patricia Mande directed human rights activist Francis Awino, who filed the petition, to serve the application and petition on all respondents by November 13.
The respondents were given 14 days from the date of service to file their responses, with the deadline set for November 27.
The judge declined to certify the matter as urgent, stating that “This is not an appropriate matter for the grant of ex parte Orders.”
Petition Challenges Share Transactions
In his petition, Awino questions the reported sale of a 24.76 per cent stake in KPC by institutional investors to the Dangote-linked entity.
He wants the court to establish how public institutions and pension funds acquired, held and eventually disposed of their shares, including the identities of the institutions involved, the quantities sold, transaction dates and proceeds received.
The case, registered as Constitutional Petition No. HCCHRPET/E764/2026, names the National Treasury, Privatisation Authority, Kenya Pipeline Company and Capital Markets Authority among the respondents. Several pension institutions and Dangote East Africa Petroleum Refinery and Petrochemicals SEZ are also listed.
Pension Funds’ Role Under Scrutiny
The petition focuses on the reported participation of institutional investors, including the National Social Security Fund (NSSF), Public Service Superannuation Fund (PSSF) and County Pension Fund (CPF).
Awino also refers to reports that several smaller pension schemes exited their positions, arguing that the circumstances surrounding the disposals require further scrutiny.
The reported transactions followed the government’s February 2026 initial public offering (IPO), through which 65 per cent of KPC was offered to investors at Ksh9 per share.
Results announced on March 4 showed that Kenyan institutions received 7.45 billion shares under the allocation.
Seeks Disclosure of Financial Records
Awino is seeking disclosure of investment appraisals, board and trustee resolutions, fund managers’ instructions, transaction agreements and payment records.
He also wants a breakdown of acquisition costs, sale proceeds, dividends, brokerage fees and other expenses to establish the actual financial outcome of the transactions.
The petition further seeks temporary orders to prevent additional transfers, sales or dealings involving the disputed shares while the case is pending.
The court is yet to determine the petition or make any findings on the allegations raised by Awino.
