Safaricom shares sale: ICPAK, telcos say Sh34 price too low

Key Takeaways

• Industry stakeholders, including ICPAK and telco associations, contend that the proposed Sh34 per share for the government's 15% Safaricom stake is undervalued and lacks a transparent valuation methodology.
• Conversely, market regulators like the CMA, CA, and CAK endorse the Sh34 price, stating it is competitive for a block sale and unlikely to negatively impact the market.
• Concerns have been raised that Vodacom's increased majority stake post-sale could diminish the Kenyan government's influence in Safaricom's strategic decision-making.