The government is set to sell 15 cent stake in Safaricom worth Sh240.5 billion.
The National Treasury CS, John Mbadi, says the funds will be used as seed capital for the National Infrastructure Fund.
“This is a well considered decision that has earned the government a 26.6 per cent premium,” Mbadi says.
The planned sale now leaves the government with 25 percent shareholding in the country’s leading telco.
Other shareholders in the company include Vodacom 35 per cent, Vodafone 5 per cent while shareholder at the Nairobi Securities Exchange (NSE) hold 25 per cent stake.
