Thursday, December
04, 2025 - Kiharu Member of Parliament, Ndindi Nyoro, has launched a
scathing attack on President William Ruto’s administration following its
decision to sell a 15 percent stake in Safaricom for Ksh 244.5 billion.
Speaking at a press conference on Thursday, December 4th,
2025, Nyoro accused the Government of grossly undervaluing the telecom giant,
insisting that Safaricom’s true worth stands at Ksh 2.5 trillion.
“The problem is that we are selling this asset for a song.”
“There is no way the government can purport to sell
Safaricom at a valuation of less than Ksh 2.5 trillion,” he said.
Nyoro alleged that the move reflects either “self-interest
or incompetence” within Government ranks.
He argued that instead of rushing to divest, authorities
should have considered restructuring Safaricom into three separate entities,
valuing them independently, and only then pursuing a sale if necessary.
The outspoken legislator further warned that the Government
may offload additional shares before the 2027 General Elections, possibly to
the National Social Security Fund (NSSF).
“You can be sure that before elections, they will have sold
the other stake.”
“Some of it will be sold to NSSF because you don’t need to
be inside Government to know how it is thinking,” Nyoro claimed.
He accused Ruto’s administration of relying on asset sales
as a shortcut rather than focusing on genuine economic growth.
Nyoro cautioned that other state-owned enterprises,
including KCB and energy sector firms, could soon face similar divestments.
“Since there is no growth in the economy, we are now looking
for shortcuts.”
“This is just the beginning,” he warned.
His remarks came hours after Safaricom confirmed Vodafone
Kenya Limited’s intention to acquire the Government’s 6.01 billion shares at Ksh
34 each, a 21 percent premium over the closing price of Ksh 28.20.
The Kenyan DAILY POST
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