In the din of the controversy over the government’s decision to divest part of its stake in Safaricom, fundamental questions have been oddly muted: How exactly will the proceeds be spent, and who will authorise that spending?
Is the proposed infrastructure fund the product of a coherent, long-term national investment strategy, or is it simply being improvised to warehouse cash from the Safaricom transaction and the planned privatisation of the Kenya Pipeline Company? Where, in fact, did this idea originate?
