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For days, the Safaricom shares controversy has continued to raise questions, but National Treasury Cabinet Secretary John Mbadi has now delivered a firm response that could add another twist to the unfolding legal battle.
His position comes even as the High Court ruling declaring the transaction null and void continues to attract widespread attention. Read Full Article Here
Mbadi has maintained that the government’s sale of its 15 per cent stake in Safaricom was conducted in accordance with the law. He said the government does not agree with the High Court’s findings and will challenge the decision through the appropriate legal channels.
The government has already filed a notice of appeal against the September 15, 2026 ruling. The three-judge High Court bench had found that the process failed to meet constitutional requirements, particularly concerning meaningful public participation and disclosure of material information.
Yet another crucial detail has emerged from Safaricom itself. The company says the transaction was completed on June 30, 2026, after the Court of Appeal lifted conservatory orders that had temporarily halted the sale.
The transaction involved the government’s 15 per cent stake being transferred to Vodacom for about Ksh204.3 billion. The government retained a 20 per cent stake in the telecommunications company.
With the High Court ruling now being challenged, the dispute is far from over. The Court of Appeal will ultimately have to consider the government’s arguments as the legal battle over the transaction moves into another stage.
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