From M-Pesa to mobile data, Safaricom powers how millions of Kenyans live, work, and connect. So when news emerges about a proposed stake sale, the conversation quickly moves beyond boardrooms and into the streets.
The National Treasury is looking to reduce its shareholding in Safaricom from 35% to 20%. The primary buyer is the Vodacom Group, which aims to consolidate its control over the telco.
The details
Valuation: The government is selling approximately 6.01 billion shares at a price of 34 KES per share. This represents a roughly 23.6% premium over the average market price as of late 2025.
Total Inflow: The deal is expected to raise 244.5 billion KES ($1.8 billion). This includes 204.3 billion KES from the share sale and an additional 40.2 billion KES through dividend monetization – essentially an upfront payment from Vodafone for the right to collect dividends on the government’s remaining 20% stake for the next few years.
Treasury Cabinet Secretary John Mbadi has stated the funds will provide seed capital for the National Infrastructure Fund and the Sovereign Wealth Fund, supporting projects in energy, roads, and water while reducing reliance on external debt.
In this episode of The TechTrends Podcast, we capture sentiment on what the Safaricom sale could mean for trust, affordability, ownership, and Kenya’s digital future.
- Hosted by: Pie Kamau
- Produced by: TechTrends Media
This episode of the TechTrends Podcast is also available on the following podcast streaming platforms:
Special thanks to our TechTrends Media production team for making this show possible. The TechTrends Podcast is produced by TechTrends Media Studios, with sound design by TechTrends Media as well, and research support from Nixon Kanali, Pie Kamau, Allan Niongira and the TechTrends Media Editorial Team.
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