Two petitioners have moved to court seeking to block an alleged plan by the government to sale a 15 percent shares in Safaricom to a South African firm.
In the petition, the activists warn that the proposed transaction would significantly dilute Kenya’s control over Safaricom, potentially costing the country its veto powers and substantial influence at the company’s board level. They argue that Safaricom is a strategic national asset, given its dominance in the telecommunications and financial technology sectors.
The case has been filed by activists Tony Gachoka and Fredrick Onyango Ogola against the Cabinet Secretary for the National Treasury and Economic Planning, the Cabinet Secretary for Information and Communication, the Communications Authority of Kenya, the Attorney General, Safaricom PLC, and the Vodacom Group.
According to the petitioners, the National Treasury expressed its intention to dispose of 15 percent cent of the government’s shareholding in Safaricom through Sessional Paper No. 3 of 2025.
Following this indication, Vodacom Group reportedly issued a notice expressing its intention to acquire the shares at an estimated cost of Ksh 204.3 billion.
They contend that completion of the proposed sale would reduce the government’s stake in Safaricom from 35 per cent to 20 per cent, a move they say would likely strip Kenya of its veto rights and weaken its influence in the company’s decision-making structures.
The petitioners further argue that Safaricom controls more than half of Kenya’s mobile connections, mobile money services, and digital financial systems, and handles highly sensitive personal, financial, electoral, and national security data belonging to over 30 million Kenyans.
They also fault the process leading to the proposed sale, claiming it was undertaken without adequate public participation or approval by Parliament, in violation of constitutional requirements.
