Ruto Defends Dangote's KPC Stake Purchase
President Ruto defends Dangote's 24.76% stake in KPC
President William Ruto has defended the purchase of a 24.76 percent stake in Kenya Pipeline Company (KPC) by billionaire businessman Aliko Dangote.
The president argued that the shares were publicly available to any investor at the Nairobi Stock Exchange. He encouraged critics to buy shares themselves instead of questioning Dangote's investment.
Ruto also stated that his administration had encouraged Dangote to invest in KPC, citing the potential for improved performance on the stock exchange. He claimed that KPC's share price rose by 10 percent after Dangote's investment.
Source: Nairobi Wire. AI-assisted summary.
