• Kenyan opposition files court bid to block Safaricom stake sale

• $1.58 billion deal would give Vodacom majority control

• Critics cite lack of transparency, undervaluation concerns

Kenyan opposition leader Kalonzo Musyoka filed a petition Monday with the Nairobi High Court to block the government's planned sale of its 15% stake in Safaricom to South African operator Vodacom.

The Wiper Party leader and former vice-president is asking the court to issue interim orders suspending the transaction pending a full hearing on the case. The court has not yet ruled.

The deal, valued at 204.3 billion shillings (about $1.58 billion), involves the sale of six billion shares at 34 shillings each. It would reduce the government's stake in Safaricom from 35% to 20%, raising Vodacom's holding to 55% and giving it effective control. Proceeds will go to the National Infrastructure Fund, established by President William Ruto in March 2026.

Musyoka is citing Article 209 of the Constitution, which governs the disposal of public assets, and Article 10, which requires public participation. He accuses the government of failing to adequately involve Parliament and the public, calling the transaction opaque and contrary to the national interest, despite Parliament's approval on March 31.

Opponents are also challenging the pricing of the deal. At 34 shillings per share, they say it is well below Safaricom's intrinsic value, which they estimate at 70 to 80 shillings, implying a potential loss to the state of more than 250 billion shillings.

Adoni Conrad Quenum