Public consultations on the government’s proposed divestiture of its stake in Safaricom Plc show widespread support, but Kenyans attending the forums say the transaction must be accompanied by robust safeguards to ensure transparency and proper use of proceeds.
The plan involves selling 15 per cent of government shares to Vodafone at Sh34 per share, while the State retains 35 per cent, valued at Sh280 billion to Sh300 billion.
Residents attending sessions in counties including Kitui, Nairobi, and Nakuru emphasized that the sale presents an opportunity to raise significant funds for development without imposing higher taxes or increasing public debt.
Participants told the National Assembly’s Joint Committees on Finance and National Planning, and Privatisation and Public Debt, that legal frameworks should ensure the proceeds are ring-fenced, protected from mismanagement, and used strictly for their intended purposes. Many cited the potential of the transaction to raise around Sh200 billion to fund stalled infrastructure, housing, and social projects.
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Speaking during the consultations, Moro MP Kimani Kuria said the government opted to sell to Vodafone, a long-standing partner with sector expertise, rather than an unfamiliar buyer, noting that the move would help reduce debt inherited from previous administrations and accelerate development.
“The government is only selling 15 percent, and the buyer is purchasing at Sh34 per share, compared to the current market rate of Sh28,” he said.
Residents expressed strong support for the divestiture, while underscoring the need for accountability.
Jerusha Muthoni, from New Mukuru Estate, said: “I fully support the move 100 percent because the money will be for development,” praising the government’s affordable housing initiatives.
Samson Kumenda, from Njiru Sub-County, said transparency in the transaction is critical. “I support the move, but there needs to be transparency in the dealing. Before the government bought Safaricom shares, they had envisioned that they would sell them one day,” he said.
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From Bahati Constituency, Eddie Odongo said the sale is a better alternative to overtaxing citizens. “This is a good move. The money will be used for development purposes,” he said.
John Maina, also from Bahati, noted that the proceeds must be managed wisely to deliver visible infrastructure.
“I support the proposed sale of the government’s stake in Safaricom since it will help accelerate infrastructure development. Once the money is obtained, it should be used wisely,” he said.
Residents also highlighted the importance of addressing local priorities. Elizabeth Kosgei, from Rongai, urged the government to implement projects that directly benefit communities:
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“Don’t forget us! Pesa ikitoka, construct roads for us as we pregnant women have been suffering and we will appreciate it,”
she said. In Kitui, Gideon Muthoka said the sale would reduce Kenya’s dependence on foreign loans while enabling completion of stalled projects.
“The government is just selling what they own — you sell what is yours, and this is what they are doing,” he said.
Nicholas Musili added: “Instead of borrowing and overtaxing Kenyans, let the government sell the shares.”
As consultations continue, Kenyans insist that their support is conditional on strong oversight, transparent management of funds, and measurable public benefits, emphasizing that accountability is key to making the divestiture a success.
