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Public participation on the proposed divestiture of the government’s stake in Safaricom Plc is drawing strong interest from citizens who say the move could offer relief from rising taxes and the cost of living, provided the process is transparent and the proceeds are well protected.
The proposal involves the sale of 15 per cent of Safaricom shares to Vodafone at Sh34 per share, while the government currently holds 35 per cent of the company, a stake valued at between Sh280 billion and Sh300 billion.
Participants across the country said the plan presents a rare opportunity for the State to raise revenue without passing the burden to households already struggling with high prices and taxes.
Public forums held in counties including Kitui, Nairobi and Nakuru revealed that many Kenyans are fatigued by repeated tax increases and borrowing, and now see the divestiture as a way to finance development without deepening their financial strain.
Residents told the National Assembly’s Joint Committees on Finance and National Planning, and Privatisation and Public Debt, that Parliament must pass a law to ring-fence the proceeds and ensure they are not lost to wastage or corruption.
While backing the sale, participants warned that it must not lead to job losses, higher consumer charges, or loss of Kenyan influence over Safaricom.
Many said that selling part of the stake could raise around Sh200 billion, funds they believe could help complete stalled infrastructure projects and improve service delivery.
Speaking during the consultations, Moro MP Kimani Kuria said the government opted to sell the shares to Vodafone, a long-standing partner with expertise in the sector, rather than to an unfamiliar buyer.
He said the sale would help reduce debt inherited from previous administrations and ease pressure on taxpayers.
“The government is only selling 15 percent, and the buyer is purchasing at Sh34 per share, compared to the current market rate of Sh28,” he said.
Residents said the move makes sense if it leads to real improvements in their lives.
Jerusha Muthoni, from New Mukuru Estate, said the funds should translate into development. “I fully support the move 100 percent because the money will be for development,” she said, praising the government’s affordable housing initiatives.
Samson Kumenda, from Njiru Sub-County, welcomed the divestiture but insisted that transparency must guide the process.
“I support the move, but there needs to be transparency in the dealing. Before the government bought Safaricom shares, they had envisioned that they would sell them one day,” he said.
From Bahati Constituency, Eddie Odongo said the sale was a better option than increasing taxes. “This is a good move.
The money will be used for development purposes,” he said. John Maina, also from Bahati, said the proceeds should be channeled into projects that improve livelihoods.
“I support the proposed sale of the government’s stake in Safaricom since it will help accelerate infrastructure development. Once the money is obtained, it should be used wisely,” he said.
Others urged the government to prioritise grassroots needs. Elizabeth Kosgei, from Rongai, said, “Don’t forget us! Pesa ikitoka, construct roads for us as we pregnant women have been suffering and we will appreciate it.”
From Kitui, Gideon Muthoka said the sale would reduce reliance on foreign loans.
“The government is just selling what they own — you sell what is yours, and this is what they are doing,” he said. Nicholas Musili added, “Instead of borrowing and overtaxing Kenyans, let the government sell the shares,” he said.
Participants said their support will ultimately depend on whether the government proves that the proceeds will ease financial pressure on citizens and translate into visible development across the country.
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