National Assembly Invites Public Views on Safaricom Divestiture Plan
NAIROBI, Kenya, Dec 8 - The National Assembly has invited Kenyans to submit views on the government’s proposed sale of a 15 percent stake in Safaricom, a Kenya breaking news | Kenya news today |..
✨ Key Highlights
The National Assembly has invited the public to submit views on the government's plan to sell a 15 percent stake in Safaricom, a move aimed at funding infrastructure projects and raising non-tax revenues. This follows the government's announcement of securing Sh244.5 billion from the transaction.
- The government plans to offload 6.01 billion shares of Safaricom, retaining a 20% stake and two board seats.
- The Treasury Cabinet Secretary John Mbadi disclosed that Vodacom Group will acquire Vodafone Kenya's entire interest, increasing its total shareholding in Safaricom to 55 percent.
- The offer price of Sh34 per share represents a 17% premium on Safaricom's six-month average, with the State also receiving an additional Sh40.2 billion upfront from Vodacom.
- Public feedback, including from shareholders, employees, and regulators, is due to the Clerk of the National Assembly by January 8, 2026.
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Government Plans Safaricom Stake Sale, Faces Calls on Mining Rules & Court Payout of Sh24bn - December 2025
The National Assembly has invited the public to submit views on the government's plan to sell a 15 percent stake in Safaricom to raise Sh244.5 billion for infrastructure projects. Concurrently, the High Court has ordered the Kenyan government to pay approximately Sh24 billion to Kwale International Sugar Company Limited (KISCOL). This ruling is a result of a failed land deal and the state's inability to ensure the investor had quiet possession of the leased land. In a separate matter, industry stakeholders are urging the government to enforce regulations regarding local participation in the mining sector. This call stems from widespread non-compliance by mining companies, with the aim of ensuring more opportunities for Kenyan professionals.
