Kenya to Sell More Stake in Safaricom in Bold Economic Move

In a significant policy shift aimed at boosting public finances, the Kenyan government has announced plans to sell more of its shareholding in Safaricom—one of Africa’s most profitable telecom giants. This is part of a broader strategy to raise Ksh 149 billion ($1.16 billion) in the 2025/26 financial year through privatization and divestment from state-owned enterprises.

The announcement was made by Finance Minister John Mbadi, who highlighted the government’s intention to offload stakes in several key companies where it holds majority or strategic interests, including Safaricom. Currently, the government holds a 35% stake in Safaricom, alongside British multinational Vodafone and other shareholders.

This move is expected to:

• Improve liquidity for government infrastructure and development plans
• Encourage private sector investment and innovation
• Reduce public debt burdens amid global economic pressures

Market analysts have expressed optimism about the planned divestment, with expectations that it could strengthen investor confidence and drive growth in Kenya’s capital markets.

For full details, you can read the original Reuters report here: Kenya’s government to sell more of its stake in Safaricom – Reuters

Stay tuned to Kingsblogy for more economic and political updates from Kenya.