The Ministry of Information has applied to the Government for a waiver to privatize Telkom Kenya prior to the passage of the privatization bill by parliament. The question is, will any serious investor trust the government with Minister Tuju running amok in the sector?
Also despite an earlier indication that Telkom would dispose of 11% of its Safaricom shares to the public, it now appears that they will be sold to Vodaphone, giving the UK phone giant a majority 51% stake in Safaricom. So once again, the public is shut out of buying shares in the hottest company in Kenya. It appears that the only money that Safaricom wants from Kenyans is for airtime, not equity.
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