Kenya is selling its 15% stake in telecom operator Safaricom to South Africa's Vodacom in a deal worth around $1.6 billion. Facing high public debt, limited room to raise taxes, and annual debt repayments that absorb 40% of government revenues, the country is divesting some of its assets to bolster its finances. The East African nation is also set to divest from other state-owned firms, including the sale of shares in Kenya Pipeline Company, in an initial public offering on the Nairobi Securities Exchange scheduled for next year.

Thami Ngubeni spoke to Channel Africa's Correspondent in Kenya, Daniel Ominde.

Kenya is selling its 15% stake in telecom operator Safaricom to South Africa's Vodacom in a deal worth around $1.6 billion. Facing high public debt, limited room to raise taxes, and annual debt repayments that absorb 40% of government revenues, the country is divesting some of its assets to bolster its finances. The East African nation is also set to divest from other state-owned firms, including the sale of shares in Kenya Pipeline Company, in an initial public offering on the Nairobi Securities Exchange scheduled for next year.
Thami Ngubeni spoke to Channel Africa's Correspondent in Kenya, Daniel Ominde.

In-depth financial issues, profiling of African businesses doing well internationally, stocks & market updates.

In-depth financial issues, profiling of African businesses doing well internationally, stocks &amp; market updates.

Advertisement