Mbadi defends Safaricom stake sale, says proceeds will fund infrastructure, not budget

Mbadi dismissed criticism from the opposition, saying the divestiture was a deliberate policy decision undertaken in accordance with the law after the Court of Appeal lifted conservatory orders that had temporarily halted the transaction...

✨ Key Highlights

Treasury Cabinet Secretary John Mbadi has defended the government's partial sale of its stake in Safaricom, stating the transaction was lawful and transparent, with proceeds earmarked for infrastructure development.

Proceeds will fund critical infrastructure projects, not plug budget deficits.
Key figure: John Mbadi, Treasury Cabinet Secretary.
The sale proceeded after the Court of Appeal lifted conservatory orders, though the substantive case is still pending.

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