Kenya Pipeline Company (KPC) shares gained 83.22% between October 22 and October 30, 2026, adding KSh137.03 billion (approximately US$1.05 billion) to the company's market capitalizations at the Nairobi Securities Exchange (NSE). The rally followed Nigerian billionaire Aliko Dangote's acquisition of a 24.76% stake in the state-linked petroleum infrastructure operator, triggering increased investor interest in the company.
The seven-session rally recorded consecutive daily gains, with the strongest increase occurring on Wednesday, October 28, when the share price advanced 9.96%, adding KSh22.72 billion to the company's market value. The gains continued on Friday, October 30, with the stock rising another 9.57%, equivalent to KSh26.35 billion in additional market capitalisation.
On Thursday, October 22, KPC shares advanced 7.95%, increasing the company's market value by KSh13.08 billion. The stock gained another 7.87% on Friday, October 23, adding KSh13.99 billion as investors responded to confirmation of Dangote's investment.
The upward movement accelerated the following week, with shares gaining 9% on Monday, October 26, adding KSh17.26 billion. On Tuesday, October 27, the stock rose 9.13%, contributing another KSh19.08 billion to its market valuation.
The rally extended on Thursday, October 29, when shares climbed 9.78%, adding KSh24.53 billion. By the end of Friday's trading session, the cumulative increase in market capitalisation had reached KSh137.03 billion, equivalent to approximately US$1.05 billion.
Dangote confirmed on October 21 that his business interests had acquired approximately 24.76% of KPC through a purchase of about 4.5 billion shares from institutional investors. The transaction was valued at approximately KSh42.5 billion, making him the company's second-largest shareholder after the Kenyan government.
The acquisition has attracted investor attention because of Dangote's wider energy investments in East Africa, including plans to construct a US$16 billion oil refinery in Lamu. The refinery, expected to be completed around 2030, is intended to supply petroleum products to Kenya and other regional markets, creating potential demand for transportation and distribution infrastructure.
Dangote has also indicated plans to invest an additional US$1.5 billion in expanding KPC's pipeline network, although details of the proposed investment's implementation timeline and financing structure remain outstanding.
KPC's underlying financial performance has also provided support for investor interest. The company reported a 13.1% increase in net profit to KSh11.58 billion for the financial year ended June 2026, while revenue rose 8.8% to KSh42.98 billion.
Investors will now be watching whether KPC can sustain its share price gains, particularly as details emerge about Dangote's proposed infrastructure investment and the company's plans to expand its regional petroleum transportation capacity.
