Civil Society Petitions Parliament to Block Safaricom Share Sale amid Transparency Concerns

Kenya, January 20 2026 - A consumer rights group has petitioned Parliament to halt the government’s proposed sale of part of its stake in Safaricom PLC, intensifying scrutiny of one of Kenya’s most significant planned divestitures. The move comes as parliamentary stakeholder hearings on the matter are underway amid growing public debate.

The petition was filed by a consumer advocacy group that argues Parliament should reject or block the planned reduction of the State’s shareholding from 35 % to 20 %, particularly the proposed sale of a 15 % stake to Vodacom Group.

Critics contend that the process has been rushed, opaque and potentially undervalues the telecommunications giant at a time of market and regulatory change.

The proposed transaction is anchored in Sessional Paper No. 3 of 2025, which lays out the government’s plan to partially divest its stake in Safaricom to raise funds for infrastructure and public development projects.

The partial divestiture is expected to generate substantial revenue, with the transaction price set at about Sh34 per share, above prevailing market levels but below some historical valuations.

Calls for greater transparency: Opponents argue that Kenya’s parliamentary due-process and public participation requirements have not been fully respected, and that the deal may lack competitive bidding, raising questions about whether Kenyans are receiving fair value for a highly profitable state asset.

National interest concerns: Some legal and civic groups warn that a significant stake controlled by a foreign strategic investor could limit long-term public control or influence over a key telecommunications and digital finance infrastructure hub.

Public voice in law-making: Critics also emphasise that public sentiment matters in asset divestiture decisions involving national and strategic interests, especially for a company that remains central to Kenya’s economy and mobile money ecosystem.