President William Ruto has launched a scathing counterattack against Kiharu MP Ndindi Nyoro, dismissing his opposition to the proposed sale of government shares in Safaricom as "political conmanship." The Head of State’s sharp rebuke escalates a brewing civil war within the Kenya Kwanza administration over the privatization of state assets.

The controversy centers on the National Treasury’s plan to offload a 15% stake in the telecommunications giant to the Vodafone Group. While the government argues the divestiture is a strategic move to unlock capital for critical infrastructure, Nyoro, a powerful budget committee chair, claims the deal is a "rip-off" that undervalues the country’s most profitable asset. The President, however, is having none of it, framing the MP’s dissent not as economic prudence, but as populist grandstanding.

The Valuation War: Sh34 vs Sh45

At the heart of the dispute is the price per share. Ndindi Nyoro has vehemently argued that selling the shares at the proposed Sh34 is a betrayal of the public trust, insisting on a minimum floor price of Sh45. He warned Parliament that the country stands to lose billions of shillings if the sale proceeds without an open, international competitive bidding process. "We cannot sell the family silver for peanuts," Nyoro declared earlier this week, alleging that the buyer has held the government "hostage."

President Ruto’s administration counters that the transaction is "above board" and reflective of current market realitiesThrough Treasury Cabinet Secretary John Mbadi, the state maintains that the deal unlocks immense value for Kenyans. "We have secured the best possible value from this transaction," Mbadi asserted. "Let us treat what Ndindi is saying as politicsYou cannot value a company based on sentimental history; you value it on market fundamentals."

• The Stakes: The sale involves approximately 6 billion shares. A difference of Sh11 per share (between the Sh34 offer and Nyoro’s Sh45 target) translates to a massive KES 66 billion variance in revenue.
• The Buyer: Vodafone, already a major shareholder, is the prospective buyer, a move Nyoro argues stifles competition and denies other global investors a chance to bid up the price.
• The Goal: The government intends to channel the proceeds into the Affordable Housing Programme and other infrastructure projects, arguing that liquidating a portion of the mature asset is necessary to fund new growth.

"Misleading the Public"

Speaking at a meeting with graduate interns at State House, Nairobi, President Ruto did not mince words. He accused critics of the plan of "misleading Kenyans" to score cheap political points. The President emphasized that divestiture is a standard tool for governments to recycle capital. "We must have the courage to convert mature assets into new opportunities," Ruto explained. "Those making noise are engaging in political conmanship to derail our development agenda."

The public spat exposes deep fissures within the ruling coalition. Ideally, the Budget and Appropriations Committee Chair acts as the government’s enforcer in Parliament. For Nyoro to openly defy the Treasury suggests a realignment of political forces ahead of the next election cycle. Political analysts observe that Nyoro is positioning himself as a defender of the "common man" against elite deals, a strategy that plays well in the Mount Kenya region but puts him on a collision course with the Presidency.

As the debate moves from the boardroom to the political podium, the fundamental question remains: Is the government selling a crown jewel to build a house, or is it, as Nyoro claims, a fire sale that future generations will regret? For now, the President has drawn a line in the sand—the sale will proceed, and dissenters will be branded as enemies of progress.