Kenyan MPs open inquiry into $1.5bn Safaricom stake sale amid valuation and control fears
- Kenya's parliament opens hearings into the government's decision to sell part of its stake in Safaricom.
- The government plans to sell 15% of Safaricom to Vodacom for KES 204 billion ($1.5 billion).
- Vodacom will also purchase an additional 5% from Vodafone for KES 68 billion ($527.3 million).
The sale of Safaricom's stake raises significant concerns about the long-term implications for Kenya's economy and governance. While the government argues that it is a necessary step for infrastructure funding, the potential loss of control over a strategic asset like Safaricom could have detrimental effects on market stability and public trust.
