Debt-strained Kenya to sell Safaricom stake to Vodacom in $1.6 billion deal
NAIROBI: Kenya is selling a 15% stake in telecom operator Safaricom to South Africa’s Vodacom in a deal worth about $1.6 billion, the companies and the finance minister said, as the government seeks to raise cash by offloading some state assets.
Facing high public debt, limited room to raise taxes, and annual debt repayments that absorb 40% of government revenues, President William Ruto’s administration is turning to asset sales to bolster its finances.
