Parliament Approves Sale of Safaricom Shares to Vodacom in KSh240 Billion Deal
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Parliament has approved a major deal that will see the Kenyan government sell part of its shares in Safaricom PLC to Vodacom Group Limited.
The decision was made on Tuesday, March 31, 2026, after members of the National Assembly unanimously agreed to support the proposal. The move now allows the government to sell a 15 percent stake in the telecom giant.
Government Set to Receive KSh240 Billion
The deal is expected to bring in a total of KSh240.2 billion. This includes about KSh200 billion from the share sale and an additional KSh40.2 billion that Vodacom will pay in advance instead of future dividends.
The shares will be sold through the Nairobi Securities Exchange using a special block trading system.
Treasury to Complete Sale from April 1
Treasury Cabinet Secretary John Mbadi is now expected to finalize the deal starting April 1, 2026. However, the process will depend on approvals from regulators and other conditions being met.
Objection Raised But Dismissed
During the debate, Suba South MP Caroli Omondi tried to stop the approval. He argued that there is an ongoing court case challenging the sale.
Despite his concerns, Speaker Moses Wetang’ula ruled that Parliament has the right to proceed. He explained that the House is not involved in the court case and must carry out its constitutional duties.
Measures to Protect Workers and Businesses
Lawmakers included conditions to protect people affected by the deal. The government must ensure:
- No job losses for current Safaricom employees
- Protection of agents, dealers, and business partners
- No major changes to Safaricom’s business model for at least 10 years
Funds to Support Development Projects
Money from the sale will be deposited into the National Infrastructure Fund to help finance development projects across the country.
Vodacom to Gain Majority Control
Before the sale, the Kenyan government owned 35 percent of Safaricom, while Vodacom held 40 percent.
After the transaction, Vodacom’s stake will rise to 55 percent, giving it full control of the company.
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