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Safaricom has reassured the public that it will continue to be a Kenyan-owned and operated company, stating that the planned sale of some shares will not affect its day-to-day operations, governance structure, or regulatory oversight.
Speaking before the Joint Parliamentary Committees on Finance and National Planning, and Public Debt and Privatisation, Safaricom CEO Peter Ndegwa addressed concerns raised during discussions on Sessional Paper No. 3 of 2025, which outlines the government’s plan to partially reduce its stake in the telecoms giant.
Ndegwa emphasized that the proposed transaction will not change Safaricom’s governance framework, legal jurisdiction, or regulatory environment, noting that the company will remain fully subject to Kenyan laws.
He added that Safaricom will continue to be licensed, supervised, and regulated by Kenyan institutions such as the Communications Authority of Kenya, the Central Bank of Kenya, the Capital Markets Authority, and the Competition Authority of Kenya.
The company will also retain its listing on the Nairobi Securities Exchange and remain accountable to local enforcement mechanisms.
Safaricom further stated that there will be no transfer of operational control, no erosion of regulatory authority, and no compromise of governance standards, with its board, management, and decision-making processes remaining intact.
Ndegwa also clarified that Vodacom is not a new entrant but a long-term strategic partner that has played a key role in Safaricom’s regional growth, including its expansion into Ethiopia. He noted that any increase in Vodacom’s shareholding is aimed at boosting long-term investment rather than altering the company’s management or operations.
