Kenya Parliament Clears Safaricom Stake Sale for $1.5B Infrastructure Fund

Kenya's parliamentary committees have recommended approving the government's sale of 15% Safaricom shares for KES204 billion ($1.5 billion) to fund infrastructure projects. The Public Debt and Privatisation Committees approved the transaction tied to a strategic deal with Vodacom Group, directing proceeds to the National Infrastructure Fund. Lawmakers argued this would ease fiscal pressure while financing roads and energy projects. The recommendation now moves to Parliament for final approval. Treasury officials claim the partial divestment avoids increasing public debt while strengthening Safaricom's regional expansion. Safaricom, Kenya's most profitable company and key M-Pesa platform operator, currently holds a 35% government stake alongside Vodacom.

SOURCE: https://techcabal.com/2026/03/10/parliamentary-committees-safaricom-share-vodacom/