The joint sitting of the Departmental committee on Finance and National Planning and the select committee on public debt and privatization held a public hearing on consideration of sessional paper No.3 of 2025 on the partial sale of government shares in Safaricom PLC, at Praise Center Church Mbale in Vihiga County on Monday.
The public hearing was held to have Vihiga County residents’ views and opinions on the government’s intention to raise development funds through the sale of 15% out of the 35% shares it currently owns in Safaricom PLC.
This is an initiative proposed by the government in order to reduce borrowing and avoid adding more public debt, with the sales expected to raise an instant Sh204,000,000,000 cash through a negotiated transaction of Sh34 per share.
A resident of Hamisi Sub County Tambua ward, Derrick Mahaya was in agreement with the government’s proposal to sell the shares. Speaking at the event, he said that the move will reduce the tax burden on citizens.
He added that the sale of the government shares will help improve infrastructure in the country, through the building of roads, airports, and other transport systems.
A resident of Vihiga Sub County, Felix Adogo was opposed to the sale of Safaricom shares. He said that the supposed benefits the government claims will benefit the citizens seems far-fetched because of the usual misappropriation of funds by corrupt individuals.
He also questioned the visible absence of local leaders who in his view are supposed to be present during such discussions, so that they get to know of their constituents’ views on such a matter.
A member of civil society at the event, John Ishuga questioned why the government should sell shares of a profit-making entity, believing it is a scam because the government had failed to revive dead entities.
Karachuonyo Member of Parliament, Adipo Okuome speaking at the public hearing said that they were part of the committee sent to collect public opinion on the proposal by the government, representing the National Assembly.
He further said that the proposal was never from the National Assembly, but from the executive after many residents had raised concern about the National Assembly pushing for the sale of the shares.
He added that he was very happy with the feedback they had received and promised to submit the residents’ views.
Balambala Member of Parliament, Hon Abdi Shurie also at the public hearing responded to residents’ concern on selling the shares to Vodacom, where he replied to their concern by saying that they preferred Vodacom because of their immense knowledge in the communication sector.
He said that the selling of the shares will be at a premium price, ensuring better value.
Nyaribari Masaba Member of Parliament, Dr Daniel Manduku who was Chair of the committee concluded by assuring the residents present at the hearing that all their views will be submitted to Parliament.
He asked residents to trust them to take every word spoke at the hearing with seriousness and consideration.
By Yvonne Misango & Maureen Imbayi
