Mbadi: Why we sold Safaricom shares to Vodacom

The planned sale faces growing scrutiny from citizens and lawmakers demanding clarity and transparency...

✨ Key Highlights

Kenya's Treasury CS John Mbadi has defended the government's decision to sell a 15 percent stake in Safaricom to Vodacom, despite public criticism. The move bypassed a public offer that would have allowed local investors to increase their ownership in the highly profitable telecommunications company.

Vodacom is set to acquire a 15 percent stake in Safaricom.
The sale has faced sharp criticism for not offering the shares publicly to local investors.
Safaricom is described as the region's most profitable company.

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