Kenya’s government is gearing up to sell part of its remaining stake in telecom giant Safaricom as it seeks to raise a hefty KSh149 billion ($1.16 billion) in the upcoming 2025/26 financial year.
Finance Minister John Mbadi revealed the plan in an interview with Business Daily, noting that the sale is part of a broader strategy to offload government shares in various state-linked companies. Safaricom, East Africa’s telecom powerhouse, is among the key targets.
Currently, the government holds a 35% stake in Safaricom. This follows a 25% share sale back in 2008 during the company’s landmark initial public offering (IPO).
If successful, the move could mark a major moment in Kenya’s push to trim public ownership and unlock new capital from the private sector.
