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Government to Sell 15% Stake in Safaricom to Vodacom for KSh 244B
The Kenyan government plans to sell a 15% stake in Safaricom, with reports indicating Vodacom as the buyer. The National Treasury announced the plan to offload over 6 billion shares held by the government to raise KSh 244 billion, with some reports citing KSh 244.5 billion. The government intends to allocate Sh245 billion from the sale proceeds to fund new infrastructure projects, specifically roads and dams. However, Kiharu MP Ndindi Nyoro has claimed that the planned sale undervalues the government's shares. This transaction signifies a significant change in the ownership structure of the telecommunications company.
High Court Nullifies President Ruto's Compensation Panel as Unconstitutional
The High Court has declared a task force established by President William Ruto for compensating victims of violence and police brutality as unconstitutional. The Kerugoya High Court nullified the special team, ruling that President Ruto lacks the authority to form and appoint such a committee. Judges stated that matters of compensation for victims of violence fall under the mandate of the Kenya National Commission on Human Rights (KNCHR). The court subsequently directed the KNCHR to oversee the compensation process.
Kenya and U.S. Sign $1.6B (Sh208B) Health Cooperation Framework
Kenya has secured a $1.6 billion (Sh208 billion) investment from the United States for its health sector. The two countries signed a significant health cooperation framework for this amount, which is set to be implemented over the next five years. This funding aims to bolster various Kenyan government health systems. This follows reports that President William Ruto was preparing to sign a separate, 25-year health cooperation agreement with the United States.
Severe Drought Sparks Famine Fears; New Climate-Smart Rice Varieties Unveiled
A severe drought and lack of rainfall in Kenya are raising alarms about potential famine and a hunger crisis. Widespread crop failures are threatening the nation's food security and causing distress among farmers. This situation highlights the critical dependence of agricultural communities on adequate precipitation. In an effort to address these challenges, Kenya has introduced four new climate-smart rice varieties. These new varieties are aimed at boosting food security and farmer resilience.
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