Molo Member of Parliament and the chairperson of the Finance Committee in the National Assembly Kuria Kimani has disputed claims that the government is on the verge of selling all its shares in the Safaricom company limited.

While addressing MPs at a retreat in Naivasha on Thursday, January 26, 2026, Kuria said that the government does not own Safaricom Limited but only owns a stake in the company. Kuria has said that out of the shares at Safaricom, Kenya owns only 35 per cent of the shares.

“There cannot be any more lies like that or any misinformation like that. Kenya does not own Safaricom; Kenya only owns a stake in Safaricom. Kenya is not selling Safaricom; we are only offsetting a piece of our shares, reducing our stake. “Kuria said.

Kuria has further explained that the government of Kenya owns 35 per cent of the shares at Safaricom, and the intention is to sell 15 per cent of the shares to the Vodacom company, leaving 20 per cent of the shares.

This, according to Kuria, at present Kenyans own 25 per cent of Safaricom, the government owns 35 percent while Vodacom company owns 40 per cent. In the new formation, if the government sells the shares, Kenyans will own 25 per cent of the shares, the government will own 20 per cent of the shares, while Vodacom company will own 55 per cent of the shares.

Share sales

 The government plans to sell 15% of its Safaricom stake, reducing its holding from 35% to 20%, in a deal potentially worth about $1.6 billion (Ksh204 billion). Proceeds are earmarked for debt reduction, infrastructure, and bolstering forex reserves.

Proponents of this sale, including the Central Bank of Kenya, describe it as a strategic fiscal move. Critics, including civil society groups, the Law Society of Kenya, and some MPs, cite concerns over undervaluation, transparency, and loss of national influence.

The sale of the Safaricom shares has continued to spark debate from leaders and members of the public, with its proponents terming it a clever move while critics term it a misinformed decision.