- Parliament has opened public hearings on selling part of the government’s Safaricom stake
- The State may offload up to 20%, targeting about KSh 244.5 billion
- Hearings run from January 13–21, 2026
- Proceeds are earmarked for infrastructure without increasing public debt
Parliament has officially kicked off stakeholder hearings on the government’s plan to partially sell its shares in Safaricom PLC, a proposal that has drawn intense interest from investors, policymakers, and the wider public.
The hearings, which run from January 13 to January 21, 2026, are being conducted jointly by the Departmental Committee on Finance and National Planning and the Select Committee on Public Debt and Privatisation.
The process follows a formal communication by National Assembly Speaker Moses Wetang’ula, paving the way for parliamentary scrutiny of Sessional Paper No. 3 of 2025.
At the centre of discussions is a proposal to reduce State’s shareholding in Safaricom, Kenya’s most valuable listed company.
Earlier disclosures indicate government is considering selling up to 20 per cent of its stake, a move that could raise approximately KSh 244.5 billion.
If approved, it would rank among the largest equity sell-downs ever witnessed in Kenya’s capital markets.
Market analysts and industry players are expected to weigh in on how the sale could affect Safaricom’s share price, trading liquidity at the Nairobi Securities Exchange, and overall investor confidence.
There is also close attention on how the divestment fits into the government’s broader strategy to manage public debt and shore up fiscal space.
From the Treasury’s perspective, the potential inflow offers a major advantage. The combined proceeds from the share sale and dividend-rights transfer would provide significant funding for priority infrastructure projects in energy, transport, water, and aviation without adding to Kenya’s debt burden.
However, the proposal has also raised critical questions. Safaricom remains the single biggest dividend contributor to the State, and some lawmakers and analysts are weighing the trade-off between a one-off cash injection and long-term recurring income.
As the hearings continue, Kenyans will be watching closely to see whether Parliament gives the green light to a move that could reshape government involvement in its most profitable corporate asset and leave a lasting impact on the local capital markets.
