Business & Economy3 stories
The National Treasury is defending its plan to sell a 15 percent stake in Safaricom Plc to Vodafone Kenya through a single-bidder, direct sale process, a move questioned by the Institute of Certified Public Accountants of Kenya (ICPAK). ICPAK is scrutinizing whether this approach ensures optimal value for taxpayers. The government's plan is to sell 6 billion shares at Sh34 per share, raising approximately Sh204.3 billion. The Safaricom Dealer Association has cautioned the government against the sale to Vodacom Group, fearing it could undermine the company's dealer-based distribution model. Concurrently, Airtel Kenya is advocating for regulatory reforms, arguing that changes in Safaricom's ownership alone will not foster adequate competition.
