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Originally published by Citizen DigitalJanuary 27, 2026
8h ago
Petition filed to block sale of government shares in Safaricom
The petition claims that the sale, valued at approximately Ksh. 204.3 billion or Ksh. 34 per share, is grossly undervalued...
✨ Key Highlights
A legal petition has been filed in Kenya to block the proposed sale of 15% of the government's shares in telecommunications giant Safaricom PLC to a private foreign entity, citing national security and public interest concerns.
- The petitioners, Tony Gachoka and Prof. Fredrick Ogolla, argue the sale is "grossly undervalued" at approximately Ksh. 204.3 billion (Ksh. 34 per share), potentially losing the public over Kshs. 250 billion compared to an estimated value of Kshs. 70–80 per share.
- The sale would reduce the Government's stake in Safaricom from 35% to 20%, weakening control over Kenya's dominant mobile money and telecommunications provider.
- Concerns include a lack of safeguards for data localization for over 30 million Kenyans and the potential for Vodacom Group to gain 55% control, undermining the state's strategic leverage.
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