Kalonzo: La vendita di Safaricom è stato un rapimento nazionale

Vodacom has officially taken control of Safaricom following the completion of its acquisition of an additional stake in the mobile network operator. This move marks a significant shift in Kenya’s telecommunications landscape, as Vodacom now holds a controlling interest in Safaricom, which is widely regarded as a cornerstone of the country’s digital economy. The acquisition brings Vodacom’s total ownership to over 55 percent, effectively granting it majority control over the largest mobile provider in East Africa.

The deal follows the government’s decision to sell its remaining 15 percent stake in Safaricom to Vodacom. This transaction reduces the state’s ownership from 35 percent to 20 percent, significantly altering the balance of power within the company. According to reports, the government sold around six billion shares at a price of Sh34 per share. However, critics argue that this valuation is well below the estimated fair market value of Sh57.90 per share, as determined by expert testimony presented in court.

Opposition figures have raised serious concerns regarding the legality and transparency of the sale. Wiper Party leader Kalonzo Musyoka criticized the transaction, calling it an “economic abduction” and questioning the government’s motives. He emphasized that the sale took place while a constitutional petition challenging the transaction remained under consideration by the High Court. Kalonzo noted that the court had previously issued conservatory orders to halt the sale until the case was resolved. These orders were lifted on June 26, 2026, prompting him to question the urgency with which the government finalized the deal.

Kalonzo highlighted the strategic importance of Safaricom, particularly due to its role in Kenya’s digital ecosystem. As the primary driver of M-Pesa, the nation’s leading mobile money platform, Safaricom plays a crucial role in facilitating financial transactions, providing communication infrastructure, and supporting public services. The opposition leader warned that the government’s decision to divest its stake could undermine these critical functions and deprive the country of a steady revenue stream.

According to Kalonzo, the government’s previous 35 percent stake in Safaricom yielded an annual dividend of approximately Sh16 billion. He questioned the rationale behind selling off this valuable asset, especially given the potential for continued profitability. Instead of securing long-term benefits, he suggested that the government opted for a short-term financial gain, receiving a lump sum equivalent to only a few years of dividend returns. This, he argued, represents a misstep in fiscal policy that could have lasting consequences for Kenya’s economy.

Despite the controversy surrounding the sale, Vodacom’s increased stake is expected to bring about changes in Safaricom’s governance and operations. With majority control, Vodacom will likely exert greater influence over strategic decisions, including investment in technology, expansion plans, and partnerships. Analysts suggest that this shift could lead to increased competition in the telecommunications sector, potentially driving innovation and improved services for consumers.

The legal challenge against the sale remains unresolved, with the High Court set to deliver its verdict within the next two weeks. If the court rules against the transaction, the implications could be far-reaching, potentially requiring the reversal of the sale or further legal action. Meanwhile, the opposition has indicated its willingness to take the matter to higher courts if necessary, ensuring that the dispute continues to attract attention and scrutiny.

As the situation unfolds, stakeholders across the political spectrum are watching closely. The outcome of the legal proceedings will determine whether the government’s decision stands or faces reversal. Regardless of the result, the sale of Safaricom’s stake has already sparked a broader debate about transparency, accountability, and the management of national assets. For now, the focus remains on the upcoming court ruling, which could shape the future of Kenya’s telecommunications industry and its relationship with foreign investors.