Parliament okays Sh240b Safaricom share sale to Vodacom
The transaction, outlined in Sessional Paper No. 3 of 2025, will be executed via the bourse’s Block Trade Platform, with the government set to receive an upfront payment in lieu of future dividends. Kenya breaking news | Kenya news today |..
✨ Key Highlights
The Kenyan National Assembly has approved the government's plan to sell a portion of its stake in Safaricom, allowing the State to offload shares effective April 1, 2026.
- The government expects to receive Sh40.2 billion from the sale of its residual 20 percent shareholding.
- Key entities involved include the National Assembly, the government of Kenya, and Safaricom PLC.
- The deal, outlined in Sessional Paper No. 3 of 2025, assures no job losses at Safaricom and preserves its existing dealer network and business model for at least a decade.
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Treasury warns Kenya’s Sh1.12tn budget deficit threatens fiscal stability - April 2026
Kenya's Treasury has warned that a projected budget deficit of Sh1.12 trillion for the upcoming fiscal year poses a significant threat to the nation's fiscal stability, a sharp increase from the previous budget. Kenya's National Treasury Principal Secretary, Chris Kiptoo, has acknowledged that the country's reliance on borrowing to finance its budget is unsustainable, even as the government plans to borrow more to cover the deficit for the 2025/26 financial year. The National Treasury has separately hired G&A Advocates for Sh358 million to represent Kenya in a London arbitration case concerning the revoked sale of Sh6.19 billion in Telkom Kenya shares. The Kenyan National Assembly has also approved the government's plan to sell a portion of its stake in Safaricom to Vodacom, allowing the State to offload shares effective April 1, 2026.
