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Originally published by Nation Business
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business
July 5, 2026
4h ago

Ruto, Kindiki defend sale of State shares in Safaricom, KPC

Ruto, Kindiki defend sale of State shares in Safaricom, KPC

They say proceeds will finance major infrastructure projects and help deliver on Kenya Kwanza's development agenda...

✨ Key Highlights

President William Ruto and Deputy President Kithure Kindiki have defended the government's decision to sell stakes in Safaricom and Kenya Pipeline Company. The proceeds are earmarked for financing major infrastructure projects as part of the Kenya Kwanza administration's development agenda.

  • Sh350 billion has been mobilised for the newly formed National Infrastructure Fund (NIF).
  • Key individuals defending the sale include President William Ruto and Deputy President Kithure Kindiki.
  • The National Infrastructure Fund will exclusively finance infrastructure projects like roads, markets, and electricity, unlike previous sales where proceeds were used for recurrent expenditure.

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