MPs pave way for Treasury to receive Sh240bn from Safaricom share sale
Parliament unanimously approved the report on partial divestiture of State shares in Safaricom...
✨ Key Highlights
Kenyan MPs have approved the sale of a 15 percent government stake in Safaricom to South Africa's Vodacom, paving the way for the National Treasury to receive approximately Sh240 billion.
- The transaction is set to generate Sh200 billion from the sale of shares, plus an upfront payment of Sh40.2 billion in lieu of future dividends.
- This parliamentary approval, achieved via acclamation despite a protest from Suba South MP Caroli Omondi, allows the transaction to proceed from April 1, 2026.
- Under the approved deal, Vodacom's stake in Safaricom will increase to 55 percent, with job protection commitments for Safaricom staff and retention of a Kenyan chairperson and independent directors.
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MPs Approve Treasury Receiving Sh240bn From Safaricom Share Sale - March 2026
Kenyan MPs have approved the sale of a 15 percent government stake in Safaricom to South Africa's Vodacom, paving the way for the National Treasury to receive approximately Sh240 billion. This comes as Kenya's fiscal stability faces threats, with the Controller of Budget Margaret Nyakang'o warning of a deepening debt cycle. The nation's public debt has surged to Sh12.29 trillion, significantly exceeding the legal threshold. Meanwhile, a study by the Kenya Association of Manufacturers reveals that high and unpredictable logistics costs are preventing Kenyan SMEs from fully accessing African markets despite the African Continental Free Trade Area.
