Kenya government receives Sh200bn as Vodacom completes 55% Safaricom stake acquisition
The Kenyan government is set to receive Sh200 billion in proceeds from the sale of a Safaricom stake to Vodacom, finalising the financial leg of the transaction. Vodacom now holds 55 percent majority control of East Africa's most prominent telco and fintech platform. The capital event marks a landmark shift in Safaricom's ownership and strategic governance.
Safaricom sale: Sh200 billion heading into a fund that has never built anything yet
The Sh200 billion lands in the National Infrastructure Fund on Friday — a government account that already holds Sh103 billion from a previous sale and, so far, no visible infrastructure to show for it.
That's the thing worth watching. The sale is done. The governance questions are settled enough. But 'capitalising a fund' and actually financing roads, ports or power is a very different journey — and Kenya has a long history of ring-fenced proceeds quietly absorbed by the general budget.
Whether this money builds anything real is a more important question for ordinary Kenyans than who owns 55 percent of Safaricom.
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- Kenya: Govt to Receive Sh200bn Safaricom Sale Proceeds Tomorrow · allafrica.com · T3