Treasury picks law firm to fight Sh6bn Telkom shares case in London
Kenya will pay G&A Advocates Sh358 million to defend the case filed by Helios...
✨ Key Highlights
The National Treasury has 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 case arises from the Kenya Kwanza administration's cancellation of a deal to sell 60% of Telkom Kenya shares to Helios Investment Partners.
- The National Treasury appointed G&A Advocates after a legal dispute with another law firm, Okoth & Kiplagat Advocates, at the Public Procurement Administrative Review Board (PPARB).
- The arbitration commenced after the former President Uhuru Kenyatta administration's deal was rescinded by the President William Ruto administration in October 2022, amid concerns over parliamentary approvals and the withdrawal of sale proceeds from the Consolidated Fund.
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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.
