Learn languages naturally with fresh, real content!

Popular Topics
Explore By Region
Kenya sold 15% of Safaricom to Vodacom for $2.1 billion, sparking opposition claims of undervaluation and lack of transparency.
Kenya's government sold a 15% stake in Safaricom to Vodacom Group for $2.1 billion, valuing the deal at Sh240.5 billion, with Vodacom set to become the majority shareholder.
The sale, approved by regulators, aims to fund the National Infrastructure Fund and avoid increasing national debt.
Critics, including opposition leaders Kalonzo Musyoka and Rigathi Gachagua, allege the shares were undervalued at Sh34 each, far below the Sh70 market price, and accuse the government of bypassing public consultation.
They claim the transaction could cost Kenyans over Sh250 billion and accuse President William Ruto of weakening democracy by selling state assets without transparency.
The opposition plans to challenge the sale with over 100 lawyers and is uniting parties ahead of the 2027 elections.
Meanwhile, the government defends the move, stating it retains a 20% stake and board representation.
Kenia vendió el 15% de Safaricom a Vodacom por 2,1 mil millones de dólares, lo que provocó que la oposición alegara una subvaluación y falta de transparencia.