Kalonzo hails High Court ruling nullifying Sh244.5bn Safaricom-Vodacom deal

Nairobi, Kenya – Wiper Party leader Stephen Kalonzo Musyoka has welcomed the High Court’s recent decision to nullify the government’s sale of a 15 percent stake in Safaricom PLC to Vodacom. Kalonzo, who represented the petitioners in the case, hailed the ruling as a triumph for Kenyans and called for the shares to be returned to the Government of Kenya.

A three-judge bench of the High Court deemed the transaction unconstitutional and void on Tuesday, mandating the 15 percent stake to be returned to State ownership. The court found deficiencies in the process leading to the sale, including insufficient public participation and disclosure of crucial information about the deal. The judges also annulled related decisions and approvals, such as Sessional Paper No. 3 of 2025.

Additionally, the ruling voided any merger, acquisition, or takeover stemming from the transaction. The government purchased the 15 percent stake from Safaricom for Sh204.3 billion on June 30, 2026, with an additional Sh40.2 billion paid to the National Treasury as an advance on future dividends from the retained 20 percent share.

The total value of the transaction amounted to Sh244.5 billion. Kalonzo argued that Safaricom should be regarded as a strategic national asset due to its pivotal role in Kenya’s telecommunications sector, mobile money services, and handling citizens’ data. He emphasized the need for constitutional and legal protections when dealing with strategic State assets.

The government has indicated its intention to appeal the decision, setting the stage for further legal proceedings over the ownership of the 15 percent Safaricom stake.