NAIROBI, Kenya — Safaricom has reassured Kenyans that proposed changes to its shareholding will not affect its operations, governance, or regulatory oversight, emphasizing that the company will continue to operate fully under Kenyan law.
The clarification was made by Safaricom CEO Peter Ndegwa during a hearing before the Joint Parliamentary Committees on Finance & National Planning and Public Debt & Privatisation, held to discuss Sessional Paper No. 3 of 2025 on the Government’s planned partial divestiture in the telecoms firm.
Ndegwa stressed that the proposed transaction does not alter Safaricom’s governance structure, regulatory environment, or national jurisdiction.
“There is no transfer of operational control, no dilution of regulatory authority, and no weakening of governance standards,” Safaricom said in a statement.
He further highlighted that the company remains licensed, supervised, and regulated by Kenyan authorities, including the Communications Authority of Kenya, Central Bank of Kenya, Capital Markets Authority, and the Competition Authority of Kenya.
Safaricom will also remain listed on the Nairobi Securities Exchange, subject to local enforcement mechanisms.
Ndegwa clarified that Vodacom is not a new investor but a long-standing strategic partner that has supported Safaricom’s regional expansion, including its entry into Ethiopia.
Any increase in Vodacom’s shareholding is aimed at strengthening long-term investment rather than altering the company’s operational or governance structures.
“Our board, management, and decision-making structures remain unchanged,” Ndegwa added.
