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Originally published by Capital Business
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business
January 16, 2026
2h ago

Accountants question ‘optimal value’ claim in single-bidder Safaricom sale

Accountants question ‘optimal value’ claim in single-bidder Safaricom sale

NAIROBI, Kenya, Jan 16 - The National Treasury has come under scrutiny over its decision to bypass competitive bidding in the planned sale of its 15 Kenya breaking news | Kenya news today |..

✨ Key Highlights

The National Treasury faces scrutiny over its plan to sell a 15 percent stake in Safaricom Plc to Vodafone Kenya via a direct sale, bypassing competitive bidding. The Institute of Certified Public Accountants of Kenya (ICPAK) questions whether this approach ensures optimal value for taxpayers.

  • The proposed valuation for the stake is Sh204.3 billion, based on a Sh34 per share price.
  • ICPAK representative Sandeep Maina challenged the direct sale, arguing it limits price discovery.
  • The Treasury defended the single-bidder strategy, citing concerns about lower offers from competitive bidding, market saturation if sold on the Nairobi Securities Exchange, and lack of operational expertise from private equity investors.

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