The Consumer Federation of Kenya (COFEK) has petitioned the National Assembly to block the proposed sale of a 15 percent stake in Safaricom PLC to Vodafone Kenya, citing concerns over national economic sovereignty and lack of public scrutiny. This divestment would reduce the state’s shareholding to a minority 20 percent, consolidating majority control under Vodacom.

• The transaction involves 6.01 billion shares valued at approximately Ksh 244.5 billion, with shares being offered at Ksh 34 each.
• COFEK Secretary General Stephen Mutoro argues Safaricom’s M-Pesa dominance makes it a critical national asset, questioning the block sale to a foreign entity over local investors.
• The Kenya Bankers Association (KBA) proposed a modified deal, reserving 300.4 million shares for the Kenyan public, while Safaricom CEO Peter Ndegwa reassured lawmakers the sale is merely a "shareholder realignment."

Safaricom has assured Kenyans that its ownership and operations will remain unchanged despite a proposed share sale. The company clarified that changes in shareholding will not affect its governance or regulatory oversight.

• Safaricom CEO Peter Ndegwa stated that the proposed transaction does not alter Safaricom’s governance structure, regulatory environment, or national jurisdiction.
• The telecommunications firm will continue to operate fully under Kenyan law and remain licensed, supervised, and regulated by Kenyan authorities.
• Vodacom is described not as a new investor, but as a long-standing strategic partner whose increased shareholding aims to strengthen long-term investment.

Kiharu MP Ndindi Nyoro has strongly opposed the Treasury’s plan to divest a 15 percent stake in Safaricom PLC to Vodafone Kenya, arguing that the restricted sale could cost taxpayers an estimated Sh150 billion. He advocates for an open tender process to maximize returns, stating the current deal violates the Public Finance Management Act by securitizing dividends already accounted for.

• Kiharu MP Ndindi Nyoro claims the restricted sale of 15 percent of Safaricom PLC could cost taxpayers Sh150 billion.
• The Treasury plans to sell 6.01 billion shares to Vodafone Kenya at Sh34 per share to fund the Sovereign Wealth Fund and infrastructure.
• Nyoro argues that the deal, a “securitization of dividends,” violates the Public Finance Management Act, aligning with a petition by the Consumer Federation of Kenya (COFEK).