Appellate Court Clears Sale of Government's 15pc Safaricom Stake

The Appellate Court has lifted orders blocking the proposed sale. This involves the State’s 15 percent stake in Safaricom. The decision clears the way for the Sh204.3 billion transaction to proceed.

The ruling came on June 26, 2026. It allows the deal to move forward pending any further appeal. The court action removes previous legal obstacles to the sale.

Safaricom is Kenya’s largest telecommunications company. The government holds a significant share in the firm. Selling part of this stake forms part of broader public asset management strategies.

The transaction value stands at Sh204.3 billion. It represents a major financial move involving state interests in the telecom sector. Details of the buyer or structure were not specified in initial reports.

The Appellate Court decision ends a period of legal uncertainty. Previous orders had halted progress on the sale. Lifting them enables parties to advance the process.

Safaricom operates extensive mobile, data and financial services networks. Its performance makes the stake attractive to investors. The sale could influence future company governance and market dynamics.

Legal teams and government officials will now review next steps. The transaction remains subject to pending appeal processes. Full completion depends on satisfying all regulatory requirements.

This development highlights ongoing efforts to optimise state assets. Proceeds from such sales often support national development priorities. Market watchers will monitor impacts on Safaricom’s share performance.

The ruling provides clarity for stakeholders. It demonstrates the judiciary’s role in resolving high-value commercial disputes. Further updates are expected as the deal advances.