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Parliament summons Treasury CS John Mbadi to explain the secretive sale of a 15% government stake in Safaricom to Vodacom, as MPs allege undervaluation and state capture.
The simmering tension within the Kenya Kwanza administration over the sale of state assets has boiled over into open conflict. The National Assembly’s Finance Committee has issued a priority summons for Treasury Cabinet Secretary John Mbadi, demanding a full disclosure of the controversial sale of a 15% government stake in Safaricom to the Vodacom Group.
The transaction, valued at approximately KES 244 billion, has become a lightning rod for political infighting. While the Treasury frames the divestiture as a critical measure to plug the fiscal deficit and service maturing Eurobonds, critics—led by Kiharu MP Ndindi Nyoro—have labeled it a "fire sale" of the country's crown jewel.
The dispute has taken a personal turn, with CS Mbadi accusing Nyoro of "political grandstanding" for challenging the deal in public rallies rather than parliament. However, MPs are now demanding the Attorney General table the sale agreement, citing fears that the stake was undervalued by nearly KES 40 billion. "We cannot sell the family silver in the dark," remarked a committee member. "If the deal is clean, why the secrecy?"
The clash between a sitting Cabinet Secretary and a powerful budget committee chair highlights the deepening fissures in the ruling coalition. As the economy struggles to "take off," the Safaricom sale has become a proxy war for the broader direction of the government's economic policy.
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