NAIROBI, Kenya – The government has announced plans to sell a 15 percent stake in Safaricom valued at Sh240.5 billion, marking one of the largest divestitures of a state-owned asset in recent years.
National Treasury Cabinet Secretary John Mbadi said the proceeds will provide the initial capital for the newly established National Infrastructure Fund, which aims to accelerate financing for large-scale public projects.
Mbadi described the move as “a well-considered decision”, noting that the state will earn a 26.6 percent premium from the planned sale.
“This is a strategic sale that unlocks value while ensuring the government remains a key shareholder,” he said.
Following the transaction, the government’s shareholding in Kenya’s biggest telecommunications company will fall to 25 percent, down from the current 40 percent.
Safaricom’s other major shareholders include Vodacom at 35 percent, Vodafone with 5 percent, and public investors at the Nairobi Securities Exchange (NSE), who collectively hold 25 percent.
