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Originally published by Citizen DigitalDecember 4, 2025
4d ago
MP Nyoro warns Safaricom shares offload could cost State billions
Addressing the press on Thursday, MP Nyoro said that the government's move to offload the shares is ill-advised and will only affect public coffers...
✨ Key Highlights
Kiharu MP Ndindi Nyoro has raised concerns over the Kenyan government's plan to sell a 15% stake in Safaricom to Vodacom Group Limited for Ksh. 244.5 billion. Nyoro warns this offload could cost the state billions due to underselling.
- The stake of 6,009,814,200 shares is valued at Ksh.34 each, reducing the state's ownership in Safaricom from 35% to 20%.
- MP Nyoro argues the sale price is significantly lower than the shares' previous value, asserting the government sold at Ksh.45 before Safaricom's investment in Ethiopia.
- The government will receive an upfront payment of approximately Ksh.40.1 billion, in exchange for relinquishing future Safaricom dividends worth Ksh. 55.7 billion that would have accrued to its remaining stake.
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