Kenya misses out on Sh16bn as Safaricom stake sale closes
South Africa's Vodacom has finalized its purchase of an additional 15 percent stake in Safaricom following the resolution of a legal challenge. The timing of the deal closure means the Kenyan Treasury misses out on a significant dividend payout.
Why it matters
The transaction represents the largest single trade on the Nairobi Securities Exchange and highlights the financial impact of legal delays on state revenue.
South Africa's Vodacom has completed the purchase of an additional 15 percent stake in Safaricom ahead of the closure of the telco’s shareholder registry for dividend payment on August 4, denying the Treasury Sh16.1 billion in additional pay.
The report provides a factual account of a business transaction and its financial consequences for the state.
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