WIPER LEADER KALONZO MUSYOKA'S STATEMENT ON SALE OF SAFARICOM SHARES TO VODACOM

#kurunzinews We are deeply concerned that the National Treasury has proceeded to complete the sale of the Government’s 15% stake in Safaricom PLC to Vodacom, while our substantive constitutional petition remains pending before the High Court. This transaction has been closed under a cloud of unresolved constitutional questions. The High Court had, on two separate occasions, found sufficient basis to issue conservatory orders stopping the sale until the constitutional petition was heard and determined. That petition has already been heard, and the High Court is expected to pronounce itself within the next two weeks. It is therefore deeply troubling that, almost immediately after the Court of Appeal lifted the conservatory orders on 26 June 2026, the Government moved with such speed to dispose of the very asset that is the subject of the pending constitutional proceedings. We respect the courts. But Kenyans are entitled to ask: if a matter is still pending before the High Court, and if the asset in dispute can be transferred before the hearing, what protection does constitutional litigation truly offer the ordinary citizen? Let us be clear: the Court of Appeal did not declare this transaction lawful. It did not determine whether Kenyans were properly consulted. It did not determine whether Safaricom was fairly valued. It did not determine whether the Government can lawfully sell a strategic national asset merely to raise short-term revenue. The Court of Appeal only dealt with the question of conservatory orders. The Government must not be allowed to outrun the court process. The due process of the law ought to have been allowed to take its course to its proper legal conclusion. This is a matter of great public interest because public wealth belongs to the people of Kenya, not to temporary office holders, Treasury mandarins, private interests, or foreign corporations. This is not an ordinary share sale. Safaricom is not just another company. It is the backbone of Kenya’s digital economy. M-Pesa moves trillions of shillings every year. Safaricom’s infrastructure supports payments, communications, businesses, public services, sensitive data, and the daily lives of millions of Kenyans. Kenyans are therefore entitled to ask a simple question: why was the Government in such a hurry to sell a highly profitable and strategic national asset before the High Court could pronounce itself? The Government has sold approximately 6 billion shares at KES 34 per share, reducing its ownership from 35% to 20% and giving Vodacom effective majority control at about 55%. We maintain that this sale was undervalued, opaque, rushed, and constitutionally suspect. Expert evidence placed before the court indicated that the fair value of the shares was, at the very least, approximately KES 57.90 per share. If M-Pesa is properly valued as a standalone fintech platform, the public value potentially lost runs into hundreds of billions of shillings. is transaction raises grave questions of transparency, accountability, valuation, sovereignty, and respect for the rule of law. It is clear that there is more to this matter than meets the eye. For that reason, we issue a clear caveat emptor: buyer beware. This matter is not closed simply because the transaction has been rushed through. The constitutional questions remain alive. The public-interest questions remain alive. The valuation questions remain alive. The accountability questions remain alive. We respect the courts and we will await the High Court’s determination of the matter. We also reserve every legal, constitutional, and public-interest avenue available to challenge this transaction and to protect the wealth of the Kenyan people. Safaricom was built by Kenyans. It grew from the trust, loyalty, and daily economic activity of Kenyans, and its value must not be traded away in haste, behind closed doors, and without full accountability to the public.I am calling on all Kenyans who love this country to unite, register to vote, and ensure that on 10 August 2027, we send a very clear message to the economic abductor-in-chief, William Ruto, that a Government lacking in accountability and focused on theft, corruption, and conflict of interest cannot be tolerated by the people of Kenya. God bless and Komboa Kenya. H.E. DR STEPHEN KALONZO MUSYOKA, EGH, SC, CS #kurunzi #kurunzitv https://kurunzinews.com   / kurunzike      / @kurunzinews   https://x.com/kurunzi_news   / kurunzinewsllc