“SHARES MUST COME BACK!” Advocate of the High Court of Kenya Ekaterina Handa has weighed in on the landmark High Court decision declaring the Government’s sale of a 15% stake in Safaricom unconstitutional, null and void.
By News Brief
The three-judge bench ruled on September 15, 2026, that the transaction should be quashed and that the 15% stake be restored to the Government of Kenya to be held on behalf of the people.
The disputed transaction involved approximately 6.01 billion Safaricom shares sold at KSh34 per share, representing about KSh204.3 billion. The Government’s stake subsequently fell from 35% to 20%, while Vodacom’s effective interest rose to approximately 55%.
The court’s decision followed a constitutional challenge that questioned the legality of the divestiture, including issues relating to public participation, valuation, procurement, disclosure of material information and the competition implications of the transaction. The court ultimately quashed the relevant approvals and agreements.
The ruling has reopened a major legal and commercial dispute because the transaction had already been completed on June 30, 2026, following an earlier Court of Appeal decision that lifted orders temporarily stopping the deal.
Vodacom has since indicated that it will challenge the High Court decision before the Court of Appeal and seek a stay of the judgment pending the appeal.
For Handa, the ruling places renewed focus on constitutional accountability, transparency in public-asset transactions and the legal safeguards surrounding strategic national assets.
The battle over the Safaricom shares is therefore far from over: the High Court has ordered restoration, while the next chapter will now unfold before the appellate courts.
LiveNation254 Media will continue tracking the legal proceedings and their implications for Safaricom, public assets and Kenyan taxpayers.
