Mbadi clarifies security and data protection concerns in Safaricom sale
By Kenneth Mwenda, January 14, 2026Treasury Cabinet Secretary John Mbadi has assured Kenyans that the sale of a 15 per cent stake in Safaricom to Vodacom will not affect national security or the protection of sensitive data.
He explained that shareholding does not determine how Safaricom operates or interacts with the security sector.
“There is security. Whether our data is safe, there is security, and this is going to control our security interest,” Mbadi said on Tuesday, January 13, 2026, as he appeared before a joint committee of the National Assembly.
“I am a shareholder of 35 per cent, but it is unlikely that I would influence the operations of Safaricom. What influences all the engagements when it comes to security and data protection are our laws, regulations and the legal framework, which is robust, and we have regulated authorities,” he said.
Mbadi cited examples where Safaricom followed regulations to support the country. During the COVID-19 pandemic, the company reduced some charges. The telecom has also supported the electoral process, actions guided by the Communications Authority of Kenya.
Ownership doesn’t affect security
He also emphasised that Safaricom is not the only company handling critical data.
“It could be the giant in the room, but we have Airtel. Airtel is also having access to our critical data, and it is 100 per cent foreign-owned, 100 per cent. And there has been no breach of our data security. I have never heard of any breach. The same way Safaricom is regulated is the same way Airtel is regulated,” Mbadi said.
He added that laws and regulations, including the Data Protection Act and competition frameworks, govern security, not ownership.
“Ownership or shareholder ownership does not apply when it comes to security, data protection, and all that,” he said.
The sale is part of the Treasury’s plan to raise funds for development financing and reduce pressure on public borrowing and taxation. The government plans to sell 6,009,814,200 shares, representing 15 per cent of Safaricom, at Ksh 34 per share. The total proceeds, including dividend monetisation, are projected at Ksh 244.5 billion.
Following the transaction, the government will retain a 20 per cent stake, while Vodacom Group’s holding will rise to 55 per cent, consolidating shares previously held by the government and Vodafone.
Mbadi said the funds will provide seed capital for the proposed National Infrastructure Fund and Sovereign Wealth Fund.
“The move signals a shift towards alternative financing models at a time when fiscal space is shrinking and traditional sources of funding are becoming increasingly constrained,” he said.