N
Originally published by Nation Business
📰 Read Full Article
business
August 10, 2026
14h ago

How taxpayers lost Sh14bn in State Safaricom sale deal

How taxpayers lost Sh14bn in State Safaricom sale deal

According to KIPPRA's valuation, the sale would have earned the government Sh218.3 billion...

✨ Key Highlights

Taxpayers reportedly lost at least Sh14.3 billion in a deal involving the sale of Safaricom shares. This loss occurred when the National Treasury and the National Assembly allegedly disregarded expert advice from a state think tank regarding the share price.

  • Taxpayers allegedly lost Sh14.3 billion due to the sale of Safaricom shares at a lower price than recommended.
  • The Kenya Institute of Public Policy and Research Analysis (KIPPRA) recommended a minimum price of Sh36.38 per share, while the government settled for Sh34.
  • KIPPRA, an autonomous public policy think-tank, presented its valuation to the National Assembly's Finance and National Planning Committee and the Public Debt and Privatisation Committee.
  • Despite KIPPRA's concerns about forgone dividends exceeding Sh1.2 trillion over 30 years, its recommendations were reportedly not included in the committee's final report.

Continue Reading

Read the complete article from Nation Business

📰 Read Full Article
Advertisement
Advertisement