The High Court’s decision to nullify the Government’s sale of a 15 per cent stake in Safaricom has opened a new business question worth more than Ksh200 billion: what happens to the money and shares if the judgment ultimately stands? The Government sold the stake to Vodacom through Vodafone Kenya for Ksh204.3 billion at Ksh34…
Wiper leader Kalonzo Musyoka has welcomed the High Court decision nullifying the government’s sale of a 15 per cent stake in Safaricom to Vodacom, describing the ruling as a victory for Kenyans. The decision came after a three-judge bench found that the multibillion-shilling divestiture violated constitutional and legal requirements, including meaningful public participation and transparency…
The High Court has nullified the government’s sale of its 15 per cent stake in Safaricom to Vodacom Group, ruling that the Ksh204.3 billion transaction violated the Constitution and other laws. A three-judge bench comprising Justices Francis Gikonyo, Roselyne Aburili and Tabitha Ouya ordered the 15 per cent stake to be restored to the government,…
