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MPs question Kiptoo over the ‘rushed’ sale of Safaricom shares
Treasury Principal Secretary Chris Kiptoo addresses MPs during the 2026 Legislative Retreat at Lake Naivasha Resort, Nakuru County, on January 29, 2026.
Photo credit: Boniface Mwangi | Nation Media Group
Members of Parliament (MPs) yesterday put Treasury Principal Secretary Chris Kiptoo to task for what they termed rushed sale of the government's 15 percent stake in Safaricom to South Africa's Vodacom Group in the absence of a legal framework to ringfence the Sh204.3 billion proceeds.
The MPs also demanded to know whether there was an independent valuation in the transaction in which the government is also to receive a separate Sh40.2 billion, representing an upfront payment of dividends that will accrue on the State’s residual 20 percent stake in Safaricom.
