High Court blocks sale of State’s 15% Safaricom stake worth KSh205 billion

Added: 2026-05-20

[00:00:11]Welcome back to KTN Prime. Let's continue informing you. Now, the High Court has declined to lift orders barring government from selling 15% of its stake in Safaricom. The stake is valued at over 205 billion shillings, which was to be sold to Vodacom. This means the sale of the 15% stake will await the decision on three petitions.

[00:00:34]This report has been prepared by Ian Wafula and voiced by Martin Opio.

[00:00:42]issued conservatory orders stopping the transaction until all three constitutional petitions are heard and determined.

[00:00:50]The petitions argue that the stake is grossly undervalued, warning that foreign control of Safaricom, which runs M-Pesa and key government platforms like e-citizen, could expose Kenya to risks of data insecurity and loss of sovereignty. The contested sale involves more than 6 billion shares, which would reduce the government's stake from 35% to 20% while raising Vodacom's shareholding to a majority 55%.

[00:01:19]Critics say that this would hand control of Kenya's most profitable company and its critical finance infrastructure to foreign interests.

[00:01:28]Government officials, however, maintain the deal is lawful, transparent, and necessary.

[00:01:34]They argue that the sale will unlock capital, strengthen Safaricom's regional footprint, and align with broader economic reforms.

[00:01:43]Well, back to the theme of