Lawmakers have approved the partial sale of government shares in Safaricom to Vodacom, clearing the way for the National Treasury to receive about Sh240 billion from the deal.
The National Assembly of Kenya on Tuesday unanimously adopted a joint committee report allowing the government to offload a 15 per cent stake in the telco.
With the approval, the Treasury will move to complete the transaction from April 1, 2026, once all regulatory conditions are met. The sale is expected to raise about Sh200 billion from shares and an additional Sh40.2 billion in upfront payments from Vodacom.
Lawmakers passed the motion by acclamation despite objections from Suba South MP Caroli Omondi, who cited an ongoing court case.
However, Speaker Moses Wetangula dismissed the concerns, saying: “That, this House adopts the Joint Report… and resolves that… the House approves the Sessional Paper No 3 of 2025 on Partial Divestiture of Safaricom PLC by the government of Kenya…”
He ruled that Parliament is not party to the case and cannot be stopped from carrying out its constitutional mandate.
The House also directed Treasury CS John Mbadi to ensure no major changes affecting dealers and partners occur within 10 years.
Funds from the sale will be channelled into the National Infrastructure Fund to support development projects.
Currently, the government holds a 35 per cent stake in Safaricom, while Vodacom owns 40 per cent.
After the transaction, Vodacom’s share will rise to 55 per cent, giving it majority control.
