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HomeDaily NewsMonday, December 8, 2025Government Plans Safaricom Stake Sale, Faces Calls on Mining Rules & Court Payout of Sh24bn - December 2025
Business & Economy3 stories from 1 sources

Government Plans Safaricom Stake Sale, Faces Calls on Mining Rules & Court Payout of Sh24bn - December 2025

The National Assembly has invited the public to submit views on the government's plan to sell a 15 percent stake in Safaricom to raise Sh244.5 billion for infrastructure projects. Concurrently, the High Court has ordered the Kenyan government to pay approximately Sh24 billion to Kwale International Sugar Company Limited (KISCOL). This ruling is a result of a failed land deal and the state's inability to ensure the investor had quiet possession of the leased land. In a separate matter, industry stakeholders are urging the government to enforce regulations regarding local participation in the mining sector. This call stems from widespread non-compliance by mining companies, with the aim of ensuring more opportunities for Kenyan professionals.

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Monday 11:57 AMCapital Business

National Assembly Invites Public Views on Safaricom Divestiture Plan

National Assembly Invites Public Views on Safaricom Divestiture Plan

The National Assembly has invited the public to submit views on the government's plan to sell a 15 percent stake in Safaricom, a move aimed at funding infrastructure projects and raising non-tax revenues. This follows the government's announcement of securing Sh244.5 billion from the transaction.

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Key Highlights

The National Assembly has invited the public to submit views on the government's plan to sell a 15 percent stake in Safaricom, a move aimed at funding infrastructure projects and raising non-tax revenues. This follows the government's announcement of securing Sh244.5 billion from the transaction.

  • The government plans to offload 6.01 billion shares of Safaricom, retaining a 20% stake and two board seats.
  • The Treasury Cabinet Secretary John Mbadi disclosed that Vodacom Group will acquire Vodafone Kenya's entire interest, increasing its total shareholding in Safaricom to 55 percent.
  • The offer price of Sh34 per share represents a 17% premium on Safaricom's six-month average, with the State also receiving an additional Sh40.2 billion upfront from Vodacom.
  • Public feedback, including from shareholders, employees, and regulators, is due to the Clerk of the National Assembly by January 8, 2026.
Sunday 10:46 PMCapital BusinessFirst

High court awards sugar investor Sh24bn over failed land deal

High court awards sugar investor Sh24bn over failed land deal

The High Court has ordered the Kenyan government to pay approximately Sh24 billion to Kwale International Sugar Company Limited (KISCOL) due to a failed land deal and the state's inability to protect the investor from squatters and ensure quiet possession of leased land.

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Key Highlights

The High Court has ordered the Kenyan government to pay approximately Sh24 billion to Kwale International Sugar Company Limited (KISCOL) due to a failed land deal and the state's inability to protect the investor from squatters and ensure quiet possession of leased land.

  • The compensation of approximately Sh24 billion will increase further with interest and legal costs.
  • The ruling by Justice Florence Wangari in Mombasa stems from a $300 million integrated sugar project initiated in 2007 by KISCOL, a partnership between Mauritian Omnicane Limited and Kenya’s Pabari Group.
  • The government failed to enforce evictions on a 15,000-acre leased area and allocated approximately 1,000 hectares (2,470 acres) for mineral extraction by Base Titanium without compensation.
  • Benson Musili, Legal Adviser for KISCOL, called the ruling a "monumental victory" for honoring government commitments.
Monday 11:20 AMCapital Business

Stakeholders urge govt to enforce local participation rules in mining sector

Stakeholders urge govt to enforce local participation rules in mining sector

Industry stakeholders in Kenya are urging the government to enhance the monitoring and enforcement of regulations concerning local participation in the mining sector due to widespread non-compliance by mining companies. This move aims to ensure more opportunities for Kenyan professionals, including engineers, to gain skills and meaningful engagement.

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Key Highlights

Industry stakeholders in Kenya are urging the government to enhance the monitoring and enforcement of regulations concerning local participation in the mining sector due to widespread non-compliance by mining companies. This move aims to ensure more opportunities for Kenyan professionals, including engineers, to gain skills and meaningful engagement.

  • The Mining Engineers Society of Kenya (MESK), represented by Chairman Joseph Komu, highlighted that many mining operations lack qualified Kenyan technical professionals despite legal requirements.
  • The Secretary Mining at the Ministry of Mining, Blue Economy and Maritime Affairs, Thomas Mutwiwa, reiterated the government’s commitment to increasing mining’s contribution to GDP from 1% to 10%.
  • Kenya is currently ranked sixth in Africa among the most attractive mining investment destinations, with its mining and quarrying sector expanding by 15.3% in Q2 2025.
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