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Kenyan Government Sells 15% Safaricom Stake to Vodacom for KSh 244 Billion
The Kenyan government has announced plans to sell 15% of its stake in Safaricom to Vodacom, a move expected to generate KSh 244 billion. According to the National Treasury, this involves offloading over 6 billion shares. The government plans to allocate Sh245 billion from this sale to fund new infrastructure projects, specifically roads and dams. However, the sale has sparked debate, with Kiharu MP Ndindi Nyoro claiming the shares are undervalued. In response, Treasury Cabinet Secretary John Mbadi refuted Nyoro's claims regarding the sale. The transaction signifies a major change in the ownership structure of the telecommunications company.
Kenya and U.S. Sign $1.6 Billion Health Cooperation Framework
Kenya has signed new health cooperation agreements with the United States, securing a $1.6 billion (Sh208 billion) investment for its health sector. The signing took place in Washington D.C. and was described as a historic milestone. This funding will be implemented over the next five years and is aimed at bolstering various Kenyan government health systems. President William Ruto is preparing to sign the 25-year health cooperation agreement. The framework is a significant development in the partnership between the two nations.
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