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Court freeze stalls Treasury’s Sh244.5bn windfall from Safaricom stake sale
A Safaricom shop along Kenyatta Avenue in Nairobi. The government’s infrastructure financing plans face fresh uncertainty after the High Court extended a freeze on the State’s multibillion-shilling Safaricom stake sale.
The payment of Sh244.5 billion to the Treasury for the sale of a 15 percent stake in Safaricom Plc to the parent firm, Vodacom Group, will take longer after the High Court extended a freeze on the transaction.
A bench of three judges of the High Court ruled that plans for the sale of the Safaricom stake should await the determination of the petitions filed by four Kenyans.
