A
three-judge bench declared the KES 204 billion sale of the government's 15%
stake in Safaricom to Vodacom invalid, citing lack of public participation and
misrepresentations about the deal.
The court ordered the shares restored to state ownership, reversing the transaction completed on June 30 that boosted Vodacom's holding to 55%.
This decision highlights tensions over transparency in public asset sales, with questions now arising on how to unwind the agreement and handle refunds.