National Assembly Opens Public Participation on Safaricom 15% Stake Sale Amid Backlash
A joint committee of Finance and National Planning and the Public Debt and Privatization Committee are inviting memoranda from all interested parties including shareholders, customers, employees. - Kenya breaking news | Kenya news today | Capitalfm.co.ke..
✨ Key Highlights
The National Assembly has initiated public participation for the government's plan to sell a 15% stake in Safaricom PLC, a move projected to raise Sh244.5 billion but facing significant backlash over potential undervaluation and lack of transparency.
- The proposed sale involves 6 billion shares at a projected price of Sh34 per share, expected to raise Sh204.3 billion, with an additional Sh40.2 billion from Vodacom Group for future dividends.
- Critics, including lawmaker Ndindi Nyoro and former Deputy President Rigathi Gachagua, argue the Sh34 per share price is a significant undervaluation, pointing to Safaricom's Sh45 per share trading price in 2021.
- The government aims to expand fiscal space and fund critical infrastructure projects while retaining a 20% stake and significant influence, including two board seats.
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Government Faces Scrutiny Over Safaricom Stake Sale and 2026 Finance Bill - December 2025
Wiper Party leader Kalonzo Musyoka accused the Kenya Kwanza government of reckless debt management and covert attempts to privatize national assets, citing the country's escalating public debt. Concurrently, the National Assembly has initiated public participation for the government's plan to sell a 15% stake in Safaricom PLC, a move projected to raise Sh244.5 billion. This proposal is facing significant backlash over potential undervaluation and lack of transparency. In a related financial matter, the National Treasury has invited Kenyans to submit tax policy proposals for the 2026/2027 budget and Finance Bill 2026. This initiative aims to enhance public participation following protests over a previous finance bill in 2024.
