Why government should go slow on Safaricom divestment

In December 2025, Safaricom announced a major restructuring where Vodafone Kenya Limited, through a 100 per cent buyout of its stakes by South Africa’s Vodacom Group Plc, will acquire a 15 per cent stake from the Government of Kenya to make Vodacom the majority controller with 55 per cent per cent ownership, while the government retains 20 per cent and the public 25 per cent. The Kenyan government will receive a cumulative Sh244.5 billion by selling a 15 per cent stake in Safaricom Plc to Vodafone Kenya for Sh204.3 billion and receiving an upfront Sh40.2 billion payment for future dividend rights on its remaining 20 per cent shareholding, a deal that grants Vodacom majority control with a 55 per cent stake.

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Safaricom CEO Peter Ndegwa during a past event. The Kenyan government will receive a cumulative Sh244.5 billion by selling a 15 per cent stake in Safaricom Plc to Vodafone Kenya
[File, Standard]

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