Mumias East MP Peter Salasya has fiercely rejected a proposal by his Kiharu counterpart Ndindi Nyoro to open the sale of government shares in Safaricom to international bidders. In a heated exchange, Salasya termed the telco a "national heritage" that must remain firmly in Kenyan hands, regardless of the price.

The clash erupted after Nyoro, chair of the Budget and Appropriations Committee, argued that the government's plan to sell a 15% stake in the giant telco was undervalued. Nyoro pushed for a competitive international bidding process to maximize revenue, citing the company's massive valuation of over KES 1.8 trillion in 2021. Salasya, however, dismissed the economic logic, framing the issue as one of sovereignty.

"I Refuse That Conversation"

"Ndindi Nyoro, stop that conversation of supporting the sale of Safaricom, whether locally or internationally," Salasya declared in a video statement. "That is our heritage and strategic investment. Diluting the government shareholding will compromise and disadvantage the country."

The youthful MP went further, invoking his future ambitions. "As the 6th President, I have refused that conversation. We must protect the gains of this country and not struggle to sell to the highest bidder." His stance resonates with a section of the public wary of privatization, fearing that strategic assets are being auctioned off to plug budget deficits.

• The Valuation Dispute: Nyoro claims the current deal prices Safaricom at a discount, warning the Treasury is leaving billions on the table. He argues the stock price has been artificially suppressed.
• The Strategic Risk: Salasya counters that Safaricom supports critical government operations and M-PESA is the "beating heart" of the economy. Selling a controlling stake to foreigners, he argues, is a security risk.

A House Divided

The public spat highlights the deepening rift within the Kenya Kwanza administration regarding privatization. While the Treasury views the sale as a necessary evil to raise KES 244 billion and retire expensive debt, lawmakers like Salasya see it as selling the family silver.

As the debate moves to the floor of the House, the government faces a tough balancing act: satisfying the IMF's conditions for structural reforms while assuaging growing nationalist sentiment protecting Kenya's most profitable company.