Faith Masita
President William Ruto has defended the government’s push to raise capital through public listings, saying the funds will be used strictly to create national wealth rather than cover recurrent government expenses.
Speaking on the role of Initial Public Offerings (IPOs) in strengthening the economy, the President emphasized that the money raised will go directly into building assets that benefit the country.
“The resources that will be raised directly from IPO are directly going to generate more public assets,” President Ruto said. He stressed that the funds will not be diverted to routine government spending such as debt servicing or paying public servants.
“The money that will be raised will not pay debts or pay salaries but it is going to creating assets,” he added.
Ruto noted that using IPOs to raise development capital will allow the government to expand national investments while giving ordinary citizens an opportunity to own a stake in key public enterprises.
The President said the approach is part of a broader plan to grow Kenya’s asset base, deepen participation in the capital markets, and ensure that funds mobilized through the market translate into long-term national development.
