Kenya Plans to Sell Part of Safaricom Stake to Raise US$1.15 billion by Mid-2026
The move is intended to ease budget pressures, as the government seeks to capitalize on its most valuable state-linked asset, valued at KES280.5 billion (US$2.2 billion).
Kenya’s National Treasury is preparing to offload part of its 34.9% stake in Safaricom by June 2026, aiming to raise KES149 billion (US$1.15 billion), according to a report by the Kenyan Times. The move is intended to ease budget pressures, as the government seeks to capitalize on its most valuable state-linked asset, valued at KES280.5 billion (US$2.2 billion).
Treasury Cabinet Secretary John Mbadi confirmed the plan, stating that other state-owned enterprises are either loss-making or not viable for privatization due to poor management or structural issues.
The sale may take the form of a secondary IPO or a block transaction targeting high-net-worth investors. Currently, the government and Vodacom each own 35% of Safaricom, Vodafone holds 5%, and the remaining 25% is publicly traded.
The divestiture could mark a turning point in Kenya’s privatization efforts, potentially unlocking new capital flows and reshaping public sector financing.
