In the swirling rumor mill of Kenyan politics, the claim that "the government is selling Safaricom" has become a lightning rod for outrage. But Molo MP and Finance Committee Chair Kimani Kuria has stepped forward to separate fact from fiction, clarifying that the state is not exiting the telco giant but strategically offloading a 15% stake to fund critical infrastructure.

The "So What?" is economic sovereignty. Safaricom is not just a company; it is Kenya's corporate crown jewel, housing M-PESA, the backbone of our financial system. The fear that it is being "sold to foreigners" strikes at the heart of national pride and security. Kuria’s mission is to calm these jitters with "pure mathematics" and policy logic.

The 15% Strategy

"There cannot be any more lie or myth," Kuria asserted, breaking down the numbers. The government currently holds a 35% stake in Safaricom (approximately 6 billion shares). [...](asc_slot://start-slot-13)The proposal is to sell a 15% portion to a strategic partner—identified as Vodacom Group—leaving the state with a 20% holding. This is a partial divestiture, not a total exit.

The rationale? [...](asc_slot://start-slot-15)Liquidity. The sale is projected to raise over Ksh 200 billion, money that Kuria insists is "ring-fenced" for infrastructure projects like the Rironi–Mau Summit highway, rather than being swallowed by the recurrent expenditure black hole.

• The Opposition: Critics, including Mumias East MP Peter Salasya, argue that selling a profitable asset ("the seed corn") to pay for roads is short-sighted. "I will vote against the sale," Salasya vowed, reflecting a populist sentiment that views privatization as theft.
• The Control Question: The key concern remains data sovereignty. If Vodacom increases its stake, does control of M-PESA data shift to South Africa? Kuria and the Treasury maintain that the government will retain veto rights and regulatory oversight, but skepticism remains high.

A Balancing Act

This transaction highlights the government's desperate need for cash without taking on more debt.By unlocking the value trapped in Safaricom shares, they hope to spur development. But as history shows with previous privatizations, the devil is in the details.

"We are only offsetting a bit of our shares," Kuria emphasized. Whether this is a masterstroke of asset recycling or the distressed sale of the family silver remains the multi-billion shilling question that Parliament must now answer.