Kenyan MPs have approved the sale of a 15 percent government stake in Safaricom to South Africa's Vodacom, paving the way for the National Treasury to receive approximately Sh240 billion.

• The transaction is set to generate Sh200 billion from the sale of shares, plus an upfront payment of Sh40.2 billion in lieu of future dividends.
• This parliamentary approval, achieved via acclamation despite a protest from Suba South MP Caroli Omondi, allows the transaction to proceed from April 1, 2026.
• Under the approved deal, Vodacom's stake in Safaricom will increase to 55 percent, with job protection commitments for Safaricom staff and retention of a Kenyan chairperson and independent directors.

Kenya's fiscal stability is under threat as the Controller of Budget, Margaret Nyakang'o, warns of a deepening debt cycle fueled by expensive borrowing and poor project management. The nation's public debt has surged to Sh12.29 trillion, significantly exceeding the legal threshold.

• Public debt reached Sh12.29 trillion as of December 2025, equivalent to 67.8 percent of GDP.
• Key stakeholder: Controller of Budget Margaret Nyakang'o.
• A major concern is the increasing amount of debt servicing going towards interest payments rather than principal reduction, a situation described as "hazardous borrowing."