Kenya National Assembly has approved the partial sale of government shares in Safaricom, paving the way for a transaction expected to raise about KSh240 billion for infrastructure development. The House adopted a joint report by the Departmental Committee on Finance and National Planning and the Public Debt and Privatisation Committee, allowing the government to offload…
Kenya’s government has sold a 15% stake in Safaricom to Vodacom Group for KSh244.5 billion, with Treasury Cabinet Secretary John Mbadi confirming that the entire amount will be channelled into critical infrastructure projects. Deal sealed in Nairobi Treasury Cabinet Secretary John Mbadi and Vodacom Group chief executive Shameel Joosub signed the agreement in Nairobi on…
Kenya’s government has sold a 15% stake in telecom giant Safaricom for KSh240.5 billion, securing a vital cash injection while handing majority control of the country’s most valuable company to South Africa’s Vodacom. National Treasury Cabinet Secretary John Mbadi confirmed the transaction on Thursday, saying 6.01 billion ordinary shares were sold at KSh34 each to…
