Kenyan government faces scrutiny over plan to sell Safaricom shares

The Kenyan government's plan to sell a large stake in the telecom company Safaricom is facing significant pushback and investigation. Lawmakers, professional bodies, and auditors are raising concerns that the shares are being sold for too low a price and that the deal may not be in the public's best interest.

MP Ndindi Nyoro has argued the shares are undervalued by billions of shillings, while Safaricom's CEO, Peter Ndegwa, has told Parliament his company was not involved in setting the sale price. The Law Society of Kenya and a group of accountants have asked Parliament to reject the sale, and the Auditor-General has flagged risks in the payout arrangement.