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.
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Patrick Njoroge Explains Why Chase, Imperial and Dubai Banks Were Shut Down - August 2026
Former Central Bank of Kenya (CBK) Governor Patrick Njoroge has explained the necessity behind the closures of Chase Bank, Imperial Bank, and Dubai Bank during his tenure. The High Court in Nairobi has reinstated a Sh29.2 million tax assessment against Jakoline Enterprises Limited, overturning a previous decision by the Tax Appeals Tribunal. Separately, taxpayers reportedly lost at least Sh14.3 billion in a deal involving the sale of Safaricom shares, a loss that occurred when the National Treasury and the National Assembly allegedly disregarded expert advice from a state think tank regarding the share price.
