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Kiharu MP Ndindi Nyoro has raised fresh concerns over the proposed sale of government shares in Safaricom, warning that Kenya risks losing billions through what he terms a discount sale of a strategic national asset.
Nyoro argues that the price currently being described as negotiated has fallen below Safaricom’s prevailing market value, effectively meaning the Government of Kenya would be selling its stake at a loss.
According to the lawmaker, such a move would amount to poor representation of Kenyan interests in a deal involving one of the country’s most profitable and influential companies.
If the government cannot effectively represent the people of Kenya in this transaction, then Kenyans will have no option but to directly engage the directors of Vodacom,” Nyoro warned.
He specifically pointed to Vodacom Chairman Justice Saki Macozoma and Group CEO Shameel Aziz Joosub, saying they must be confronted on the true value of Safaricom and Kenya’s stake in the firm.
The MP emphasised that Safaricom is not just another listed company but a critical pillar of Kenya’s economy, digital infrastructure and regional expansion strategy.
Any disposal of government shares, he said, must therefore be transparent, competitively priced, and demonstrably beneficial to Kenyan citizens.
Nyoro also linked the Safaricom debate to growing unease surrounding the proposed acquisition of a stake in Kenya Pipeline.
He alleged that individuals purporting to be foreign investors including claims of Ugandan ownership are in fact local actors attempting to mask their identities.
The legislator warned that such manoeuvres would eventually be exposed, calling for greater scrutiny of all transactions involving strategic state assets.
Framing the issue within a broader continental context, Nyoro said Africa must learn to protect and properly value its economic assets.
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“We are African, and Africa is our business,” he said, stressing that governments must negotiate from a position of strength rather than desperation.
The Kiharu MP’s remarks have injected new political pressure into the Safaricom sale, turning it into a wider test of governance, accountability and how Kenya chooses to manage assets held in trust for future generations.
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