Local investors should lead Safaricom stake purchase, GEMA tells MPs
The GEMA Cultural Association, through its professional arm Ndari Kirimaini, said Kenyan retail investors, pension funds, insurance firms and other local institutional investors should be given first priority in acquiring the state’s 15 per cent shareholding in the telecoms fir..
✨ Key Highlights
The GEMA Cultural Association has urged Kenyan Members of Parliament to prioritize local investors in the planned sale of the government's 15 percent stake in Safaricom, warning against selling directly to Vodacom Group. This move aims to keep dividend income and long-term value within the domestic economy.
- The government plans to sell 15 percent of its 35 percent stake in Safaricom to raise approximately Sh204 billion.
- GEMA, through its professional arm Ndari Kirimaini, advocates for Kenyan retail investors, pension funds, and insurance firms to have first priority.
- The proposed sale would increase Vodacom's shareholding to about 55 percent, with the government retaining 20 percent.
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Safaricom Launches Share Trading via M-Pesa; Nedbank to Acquire NCBA Stake - February 2026
Safaricom has launched Ziidi Trader, a new mobile-based share trading platform integrated into its M-Pesa app. This allows Kenyans to buy and sell shares on the Nairobi Securities Exchange (NSE) directly from their phones. Meanwhile, the GEMA Cultural Association has urged Members of Parliament to prioritize local investors in the planned sale of the government's 15 percent stake in Safaricom. In another major financial development, South African lender Nedbank announced it will acquire a 66 percent stake in NCBA Group. Nedbank has assured that it will retain all NCBA Group employees following the proposed acquisition.
