Kenya’s finance minister says the country’s government will sell more of its Safaricom shares

Finance Minister John Mbadi was quoted in Kenya’s Business Daily on Monday as saying that the country’s government intends to sell a larger portion of its stake in telecom operator Safaricom (SCOM.NR) and opens a new tab.

According to Mbadi’s interview with the Business Daily, the government wants to raise 149 billion shillings ($1.16 billion) in the 2025–2026 fiscal year by selling its shares in enterprises, including a larger portion of its ownership of Safaricom.

In 2008, the government sold a 25% part in the operator through an IPO, and now owns 35% of the company.