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HomeDaily NewsThursday, February 5, 2026Parliament Approves Sh204Bn Safaricom Sale for Infrastructure; Mau Summit Road Upgrade Planned - February 2026
Business & Economy4 stories from 2 sources

Parliament Approves Sh204Bn Safaricom Sale for Infrastructure; Mau Summit Road Upgrade Planned - February 2026

A Kenyan parliamentary committee has approved the sale of a 15% government stake in Safaricom PLC to raise Sh204.3 billion for critical infrastructure development. The sale aims to ease pressure on public finances as only Sh29.8 billion was available for development in the 2025/26 financial year. In separate infrastructure initiatives, the National Treasury and KeNHA have begun plans for the upgrade of the Mau Summit–Eldoret–Malaba Road PPP project. Following online discussions, the National Social Security Fund (NSSF) defended its investment in the Rironi–Nakuru–Mau Summit highway project, stating that contributors' savings are safe. Meanwhile, Treasury CS John Mbadi defended the controversial National Infrastructure Fund in court after the High Court suspended its operation.

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Thursday 1:30 PMCapital Business

Treasury, KeNHA begin plans for Mau Summit–Malaba road upgrade

Treasury, KeNHA begin plans for Mau Summit–Malaba road upgrade

The National Treasury's Public Private Partnerships (PPP) Directorate, in collaboration with the Kenya National Highways Authority (KeNHA) and the Asian Infrastructure Investment Bank (AIIB), has initiated plans for the upgrade of the Mau Summit–Eldoret–Malaba Road PPP project.

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Key Highlights

The National Treasury's Public Private Partnerships (PPP) Directorate, in collaboration with the Kenya National Highways Authority (KeNHA) and the Asian Infrastructure Investment Bank (AIIB), has initiated plans for the upgrade of the Mau Summit–Eldoret–Malaba Road PPP project.

  • A pre-feasibility study, funded by AIIB, is underway to assess the project's viability, conducted by CPCS of Canada and Avatech Engineering of Kenya over four months.
  • The road, a critical part of the Northern Corridor and a regional trade route, will be expanded to a dual carriageway with improved safety and climate-resilient designs.
  • The government aims to issue a Request for Qualifications (RFQ) in the third quarter of 2026, with commercial close expected in the second quarter of 2027.
Thursday 2:31 PMCapital Business

NSSF defends Mau Summit–Rironi Road investment, says members funds safe

NSSF defends Mau Summit–Rironi Road investment, says members funds safe

The National Social Security Fund (NSSF) has defended its investment in the Rironi–Nakuru–Mau Summit highway project, asserting that the deal safeguards contributors' savings and aligns with regulatory requirements. They clarify common misunderstandings, particularly online, regarding their involvement in the large-scale infrastructure development.

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Wednesday 9:49 PMNation BusinessFirst

Parliament team okays Sh204bn Safaricom sale

Parliament team okays Sh204bn Safaricom sale

A Kenyan parliamentary committee has approved the sale of a 15% government stake in Safaricom PLC to raise Sh204.3 billion for critical infrastructure development. The sale, conducted through a negotiated transaction at Sh34 per share, aims to ease pressure on public finances, with only Sh29.8 billion available for development in the 2025/26 financial year.

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Thursday 12:55 PMNation Business

CS Mbadi defends Sh5 trillion infrastructure fund in court

CS Mbadi defends Sh5 trillion infrastructure fund in court

Treasury CS John Mbadi has defended the controversial establishment of the National Infrastructure Fund in court, asserting it's vital for Kenya's development agenda. The High Court had suspended the fund’s operation pending the hearing of two challenges against it, while the government was directed to file its response by January 20.

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Key Highlights

Treasury CS John Mbadi has defended the controversial establishment of the National Infrastructure Fund in court, asserting it's vital for Kenya's development agenda. The High Court had suspended the fund’s operation pending the hearing of two challenges against it, while the government was directed to file its response by January 20.

  • The proposed fund aims to mobilize over Sh5 trillion for projects like food security and transport.
  • The Consumers Federation of Kenya (Cofek) and others have challenged the fund, arguing its establishment as a limited liability company violates Article 201 of the Constitution.
  • Mbadi stated the fund would operate under clear governance and accountability frameworks with a competitively appointed board.
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Key Highlights

The National Social Security Fund (NSSF) has defended its investment in the Rironi–Nakuru–Mau Summit highway project, asserting that the deal safeguards contributors' savings and aligns with regulatory requirements. They clarify common misunderstandings, particularly online, regarding their involvement in the large-scale infrastructure development.

  • NSSF's exposure to the Sh170 billion project is limited to 40 percent of the equity portion, estimated at Sh20–25 billion, not the entire cost.
  • General Manager for Finance and Investments Ronald Nyamosi stated that such infrastructure investments are designed for stable, long-term returns, similar to government bonds.
  • The project is a public-private partnership (PPP) between NSSF and China Road and Bridge Corporation (CRBC), with 75 percent debt and 25 percent equity.
  • The Mau Summit–Rironi highway is expected to be completed by June 1, 2027, and is one of Kenya's busiest transport corridors.

Key Highlights

A Kenyan parliamentary committee has approved the sale of a 15% government stake in Safaricom PLC to raise Sh204.3 billion for critical infrastructure development. The sale, conducted through a negotiated transaction at Sh34 per share, aims to ease pressure on public finances, with only Sh29.8 billion available for development in the 2025/26 financial year.

  • The sale involves six million shares to Vodacom at Sh34 per share, above the market average of approximately Sh29.50 as of January 30, 2026.
  • The National Assembly’s Finance and National Planning Committee, chaired by Molo MP Kuria Kimani, supported the urgent divestiture of State-Owned Enterprises (SOEs) due to Kenya’s Sh12 trillion public debt.
  • The raised funds will finance infrastructure projects, and the transaction ensures no acquisition-related job losses for at least three years and preserves Kenya’s digital heritage.