The National Assembly’s Finance and Public Debt Committee has issued a joint report on the government’s proposed partial divestiture of Safaricom’s stake.
This report, tabled on March 10, 2026, reviews Sessional Paper No. 3 of 2025 and recommends amendments to the plan.
The report addresses the sale of up to 15% of the government’s roughly 35% stake in Safaricom to Vodacom Group via a block trade on the Nairobi Securities Exchange.
It projects proceeds of about KSh 204 billion from selling around six billion shares at Sh34 each, plus an upfront Sh40 billion for future dividends. Funds are to be directed to the National Infrastructure Fund for major projects.
However, it has strengthened worker protections beyond the original three-year no-layoff guarantee to prevent redundancies from restructuring.
The report has also directed Safaricom to remain a Kenyan company post the process and maintain its operational structure, protecting dealers, agents, and partners for at least a decade.