Kenya’s National Treasury is planning to sell part of its 34.9% shareholding in Safaricom by June 2026 to raise KES 149 billion (USD 1.15 billion). The decision seeks to relieve fiscal pressure by monetizing the government’s most valuable state-linked asset, currently valued at KES 280.5 billion (USD 2.2 billion).
Treasury Cabinet Secretary John Mbadi confirmed the plan, noting that most other state-owned enterprises are either financially struggling or unfit for privatization due to mismanagement and structural challenges.
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The planned sale could be structured as a secondary initial public offering (IPO) or a block deal targeting institutional or high-net-worth investors. Presently, the government and Vodacom each own 35% of Safaricom, Vodafone holds 5%, and the remaining 25% is listed on the public market.
This divestment could signal a new phase in Kenya’s privatization strategy, opening the door to fresh capital inflows and potentially reshaping how the public sector funds its operations.
