National Treasury is receiving proceeds from the conclusion of a Safaricom share sale to Vodacom. Cabinet Secretary John Mbadi says the government expects to receive about Sh204.3 billion from selling an additional 20% stake in Safaricom. In the transaction described, the government sells 6,009,814,200 ordinary shares to Vodacom at Sh34 per share, following the Court of Appeal’s clearance of the deal. The purchase raises Vodacom’s ownership in Safaricom to 55%, making it the majority shareholder, while the government retains a 20% stake, according to one report. Other outlets report a cash injection estimate of Sh244.2 billion after the sale of a 15% stake in Safaricom to Vodacom, also referring to the deal’s conclusion. The differing figures reflect how the transaction size and stake percentage are presented across the coverage. Across the reports, the key points remain that the Safaricom sale has been completed, the funds are headed to the National Treasury, and the Court of Appeal approval cleared the transaction.
Kenya Treasury receives funds from Safaricom stake sale to Vodacom
National Treasury is receiving proceeds from the conclusion of a Safaricom share sale to Vodacom. Cabinet Secretary John Mbadi says the government expects to receive about Sh204.3 billion from selling...
- National Treasury says the Safaricom stake sale deal has concluded and is approved following a Court of Appeal clearance.
- The government sells Safaricom ordinary shares to Vodacom at Sh34 per share.
- One report says the government expects about Sh204.3 billion, while other reports cite Sh244.2 billion, depending on how the stake percentage/amount is presented.
- Vodacom’s ownership in Safaricom rises to 55%, making it the majority shareholder.
- The government retains a 20% stake in Safaricom after the transaction, according to one report.
National Treasury Cabinet Secretary John Mbadi said the government expects to receive Sh204.3 billion from the sale of an additional 20 percent stake in Safaricom today (Friday, July 3), marking the conclusion of one of Kenya’s largest corporate transactions in recent years. He noted that the government sold 6,009,814,200 ordinary shares to Vodacom, South Africa’s telecommunications group, at Sh34 per share. The move followed days after the Court of Appeal cleared the deal. The acquisition raised Vodacom’s ownership in Safaricom PLC to 55 percent, making it the majority shareholder. At the same time, the government of Kenya kept a 20 The post Treasury Receives Sh204.3 Billion From Safaricom Stake Sale appeared first on Nairobi Wire.
1 month agoThe National Treasury will get a Sh244.2 billion cash injection after the sale of a 15 per cent stake in Safaricom to South Africa's Vodacom Group.
1 month agoThe National Treasury will get a Sh244.2 billion cash injection after the sale of a 15 per cent stake in Safaricom to South Africa's Vodacom Group.
1 month agoThe National Treasury will get a Sh244.2 billion cash injection after the sale of a 15 per cent stake in Safaricom to South Africa's Vodacom Group.
1 month ago
Ukrainian drones strike Ozon warehouses across southern Russia
Ukrainian drone attacks hit Ozon, Russia’s second-largest online retailer, across multiple regions overnight. Several re...
Bessent says a disorderly yen could push up U.S. interest rates
U.S. Treasury Secretary Scott Bessent warns that an unstable or “disorderly” yen would increase risks for U.S. interest...
Spot Bitcoin ETFs swing between inflows and outflows as market volatility persists
Spot Bitcoin ETFs see renewed inflows after prior selloffs, helping turn the weekly performance back into positive terri...