Nyoro defends open tender for Safaricom divestment

NAIROBI, Kenya, Jan 20 — Kiharu MP Ndindi Nyoro has vehemently opposed the Treasury's plan to divest a 15 percent stake in Safaricom PLC to Vodafone Kenya breaking news | Kenya news today |..

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Kiharu MP Ndindi Nyoro has strongly opposed the Treasury’s plan to divest a 15 percent stake in Safaricom PLC to Vodafone Kenya, arguing that the restricted sale could cost taxpayers an estimated Sh150 billion. He advocates for an open tender process to maximize returns, stating the current deal violates the Public Finance Management Act by securitizing dividends already accounted for.

Kiharu MP Ndindi Nyoro claims the restricted sale of 15 percent of Safaricom PLC could cost taxpayers Sh150 billion.
The Treasury plans to sell 6.01 billion shares to Vodafone Kenya at Sh34 per share to fund the Sovereign Wealth Fund and infrastructure.
Nyoro argues that the deal, a “securitization of dividends,” violates the Public Finance Management Act, aligning with a petition by the Consumer Federation of Kenya (COFEK).

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