Deputy President Kithure Kindiki has defended the government’s decision to partially offload its shareholding in Safaricom and Kenya Pipeline Company, insisting the move is aimed at raising funds for critical infrastructure development without burdening taxpayers.

‎Speaking during an interdenominational prayer service at Soliat Boys High School in Kericho County on Sunday, July 5, 2026, Kindiki said proceeds from the sale of the state stakes would be channelled into the proposed National Infrastructure Fund to finance major development projects across the country. ‎‎

“The money collected from the sale will not be diverted to recurrent expenditure. It will be deposited directly into the National Infrastructure Fund, which will be managed by an independent board responsible for financing roads, dams, railways, airports, and other strategic projects,” he said. ‎‎

The Deputy President dismissed criticism from opponents of the plan, saying the partial divestiture offers a sustainable alternative to increasing taxes or taking on additional foreign debt.

‎‎He said the government requires significant financial resources to implement key infrastructure projects, including the construction of roads, irrigation schemes, dams, railways and the expansion of airports, which are expected to spur economic growth and create employment opportunities. ‎‎

Mbadi defends share sales

Treasury Cabinet Secretary John Mbadi has also defended the decision to sell part of its shares in Safaricom PLC, saying the move was lawful and aimed at raising funds to finance major national infrastructure projects.

Speaking during a press briefing in Kisumu on July 4, 2026, Mbadi dismissed criticism from opposition leaders over the sale of part of the government’s stake in the telecommunications company, saying the move was a carefully considered economic decision designed to strengthen Kenya’s long-term development agenda rather than a politically driven exercise.

He maintained that the transaction complied with the Constitution, the Public Finance Management Act and all applicable legal procedures, noting that the government only proceeded after the Court of Appeal lifted conservatory orders that had temporarily halted the process.

“The action that the government took is in sync and in compliance with the principles of respect for the rule of law,” Mbadi said, adding that the government had obeyed the initial High Court orders before successfully seeking relief at the Court of Appeal.