NAIROBI, Kenya – Kiharu MP Ndindi Nyoro has urged the government to sell Safaricom shares to Kenyans or the international market for higher value.
Nyoro said Kenyans can invest in their own public assets, adding that if the government needs capital to finance the budget, it should advertise internationally to get a much higher price, like the initial KSh 34 per share.
“I want to celebrate our judiciary today because they have ruled that the sale of Safaricom shares was unconstitutional. Vodacom and Vodafone, Kenyans are looking at you; we need you to bring back our money.
“Kenyans are saying they are ready to buy our Safaricom shares… do not sell them to other people, Kenyans will buy them from the Nairobi Stock Exchange (NSE),” said Nyoro during a rally in Kajiado on Tuesday, September 15.
The renowned Kenya Power and Lighting Company (KPLC) investor issued the recommendations following the High Court determination on the case challenging the sale of the Kenya government’s 15% stake in Safaricom, which was concluded in June 2026.
“Based on our analysis, findings and holdings in respect of the various issues identified for determination, we are satisfied that the petitioners have proved on a balance of probabilities that the divestiture in question was undertaken and procured in contravention of the Constitution and the law. It was, therefore, invalid, null and void,” read the court statement in part.
A three-judge bench said the divestiture did not follow the right procedure, citing inadequate public participation and misrepresentation of the material information.
The government sought KSh 204 billion, including an upfront payment of KSh 40.2 billion for the National Infrastructure Fund.
The court ordered that the shares sold to Vodafone and Vodacom be restored to State ownership.
Kenyan government owns a 35% stake in the country’s telecommunications company. The sale of a 15% stake to Vodacom could have cut the stake to 20%.
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