The government is not selling Safaricom PLC but is exploring options for leveraging a portion of its shareholding, National Assembly Finance and National Planning Committee Chairperson Kuria Kimani has said.
Kimani clarified that Kenya does not wholly own Safaricom, stressing that the State is one of several shareholders in the telecommunications company.
He added that any measures involving the company relate solely to the government’s stake and do not constitute a sale of the firm itself.
“Kenya does not own Safaricom. Kenya only owns a stake—six billion shares. Therefore, the government is not selling Safaricom Limited; we are only offsetting a portion of our shares,” Kimani said.
His remarks sought to address concerns following claims that the government was planning to sell Safaricom, a company that plays a central role in Kenya’s digital economy, financial inclusion, and connectivity.
Kimani made the comments on Thursday during the 2026 Legislative Retreat at Lake Naivasha Resort, Naivasha.
The retreat, led by National Assembly Speaker Moses Wetang’ula, brings together House leadership and all Members of the National Assembly to review progress, address key challenges, and align priorities ahead of the Fifth Session of the Thirteenth Parliament.
Safaricom, listed on the Nairobi Securities Exchange, has a diverse ownership structure that includes the government, institutional investors, and millions of individual Kenyans holding shares directly or through pension funds and collective investment schemes.
The company is also a significant contributor to government revenue through taxes, license fees, and dividends.
Over the years, Safaricom has become a cornerstone of Kenya’s economy, driving innovation in telecommunications, mobile money, and digital services.
Its M-Pesa platform, launched in 2007, has transformed financial access for millions of Kenyans and is widely recognised globally as a model for mobile-based financial inclusion.
Kimani said Parliament is committed to ensuring that public discussions around State assets are based on verified information rather than speculation.
He noted that the government, like any shareholder, is entitled to manage its portfolio responsibly to meet broader fiscal and development objectives.
The Finance Committee chair emphasised that decisions regarding government shareholding in publicly listed companies are guided by existing laws, transparency requirements, and the need to protect public interest.
He concluded by saying that Safaricom remains a strong, stable, and well-governed company whose operations continue independently of discussions about government shareholding.
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