Safaricom dealers warn against state stake sale to Vodacom
The government is in the final stages of selling a 15 percent stake in Safaricom to Vodacom Group, subject to regulatory and parliamentary approvals. If approved, the State’s 6 billion shares would be sold at Sh34 per share, raising about Sh204.3 billion. Kenya breaking news | ..
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The Safaricom Dealer Association has cautioned the Kenyan government against selling a 15 percent stake in Safaricom to Vodacom Group, fearing it could undermine Safaricom's dealer-based distribution model. The government plans to sell 6 billion shares at Sh34 per share, raising approximately Sh204.3 billion.
- The proposed sale involves 15 percent of Safaricom's stake to Vodacom Group for about Sh204.3 billion.
- The Safaricom Dealer Association is concerned about potential changes to Safaricom's shared prosperity model, contrasting it with Vodacom's more centralised approach in other markets.
- Dealers warned of possible management changes, reviews of existing contracts, and job losses, urging the government to safeguard agreements and ensure dealer representation.
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Treasury Defends Single-Bidder Sale of 15% Safaricom Stake to Vodafone Kenya - January 2026
The National Treasury is defending its plan to sell a 15 percent stake in Safaricom Plc to Vodafone Kenya through a single-bidder, direct sale process, a move questioned by the Institute of Certified Public Accountants of Kenya (ICPAK). ICPAK is scrutinizing whether this approach ensures optimal value for taxpayers. The government's plan is to sell 6 billion shares at Sh34 per share, raising approximately Sh204.3 billion. The Safaricom Dealer Association has cautioned the government against the sale to Vodacom Group, fearing it could undermine the company's dealer-based distribution model. Concurrently, Airtel Kenya is advocating for regulatory reforms, arguing that changes in Safaricom's ownership alone will not foster adequate competition.
