Petition filed to block State's Sh204b Safaricom shares sale to Vodacom

Two activists have moved to court seeking to halt the government’s planned sale of a 15 per cent stake in Safaricom to Vodacom Group..

✨ Key Highlights

Two activists have petitioned the Milimani High Court to block the Kenyan government's planned sale of a 15 percent stake in Safaricom PLC to Vodacom Group. They argue the Sh204.3 billion transaction is undervalued and lacks transparency, threatening national sovereignty and security.

The activists claim the shares are significantly undervalued, potentially leading to losses of over Sh250 billion for Kenya.
The petitioners are veteran journalist and KANU spokesman Tony Gachoka and economics professor Fredrick Ogola.
They have sued the Cabinet Secretaries for National Treasury and Information Communication, alongside the Communications Authority, Competition Authority, the Attorney General, Safaricom PLC, and Vodacom Group.

Continue Reading

Read the complete article from The Standard

📰 Read Full Article

Related News

Video

Hila ya hisa?

Citizen TV (Youtube)

3h ago

top22h ago

KWS Busts Major Wildlife Trafficking Ring in Turkana

The Kenya Wildlife Service (KWS) successfully busted a major wildlife trafficking ring in Lokichar, Turkana County on Wednesday, January 28, apprehending three suspects involved in the illegal trade.

Kenyans

📰 Read Full Story

top22h ago

Thousands of Kenyans Face Uncertainty as UN Agencies Downsize

The United States' decision to withdraw from several United Nations bodies has sparked concerns about Nairobi's future as a major UN hub, potentially impacting thousands of jobs and Kenya's economy.

Kenyans

📰 Read Full Story

tech1d ago

Safaricom’s M-Pesa Daraja 3.0 sandbox issues spur community-built local alternative

Despite Safaricom's launch of M-Pesa Daraja 3.0 in November 2025, developers faced significant issues with its unstable sandbox environment, leading to the creation of a community-built, open-source alternative.

Techish Kenya

📰 Read Full Story