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Originally published by Nation Businessbusiness
September 16, 2026
4h ago
State appeals court ruling nullifying Safaricom stake sale
Mbadi says the divestiture was lawful and will challenge the High Court’s findings...
✨ Key Highlights
The Kenyan government has filed an appeal against a High Court ruling that nullified the sale of its 15 per cent stake in Safaricom PLC to Vodacom. The court had declared the Sh204.3 billion deal unlawful, citing breaches of the Constitution and inadequate public participation.
- The government sold 15 per cent of its Safaricom PLC shares for Sh204.3 billion.
- National Treasury Cabinet Secretary John Mbadi stated the government will vigorously pursue the appeal.
- The High Court found the sale lacked sufficient public participation and involved concealment of material information.
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