Speaking on Tuesday, Nyoro questioned both the valuation and the method used to sell the shares. He argued that using market pricing for such a significant national asset could lead to a substantial undervaluation, ultimately shortchanging the public.
The MP compared the situation to global markets, pointing out that in other countries, large transactions often follow competitive bidding rather than relying solely on market prices. He highlighted ongoing corporate deals in the United States, where major companies go through structured bidding processes to ensure fairness and maximize value.
Nyoro argued that Kenya’s current approach ignores these precedents and may disadvantage ordinary citizens, whose interests the government is meant to protect. He said the sale of strategic assets should not be rushed or conducted in a way that favors specific buyers over the public.
Questions also arose about the selection of the buyer. Nyoro emphasized that the government’s stake in Safaricom belongs to all Kenyans and stressed the need for transparency in determining who acquires it. He warned that the current process lacks clarity and fairness, leaving room for questions about why the chosen buyer was selected over others.
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