We already received the money from Safaricom share sale; Mbadi

Treasury Cabinet Secretary John Mbadi has defended the government’s controversial sale of a 15% stake in Safaricom, insisting the transaction was lawful, transparent and aimed at financing critical infrastructure, while accusing opposition leaders of politicising an economic decision.

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Speaking during a press briefing on Saturday, Mbadi dismissed criticism led by opposition leader Kalonzo Musyoka and former Attorney General Justin Muturi, saying the government had complied with the law and respected court processes throughout the divestiture.

“The action that the government took is actually in sync and in compliance with the principles of respect for the rule of law,” Mbadi said.

The CS noted that the transaction only proceeded after the Court of Appeal of Kenya lifted conservatory orders previously issued by the High Court, adding that the government had obeyed the initial court orders before successfully appealing them.

Mbadi rejected claims that the sale lacked public participation, saying the process complied with Section 87A of the Public Finance Management Act and received approval from the National Assembly after extensive public engagement.

“The National Assembly equally conducted extensive engagement with the public. This exercise was done meticulously and within the law,” he said.

He challenged the opposition to demonstrate that it had similarly consulted Kenyans before opposing the sale.

“I want to ask Kalonzo, J.B. Muturi and the rest who are contesting this direction, where have you conducted public participation? I did,” Mbadi said.

Mbadi accused the opposition of turning an economic and investment decision into a political contest.

“This is an economic transaction. You don’t play politics with it. You put forward substantive matters,” he said.

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The CS also questioned why Kalonzo was opposing the latest divestiture despite serving in the governments of former presidents Daniel arap Moi and Mwai Kibaki, both of which sold portions of the government’s Safaricom stake.

“Where did the 65% go? President Moi divested part of the shares. President Kibaki also did the same. Kalonzo was in those governments and never objected,” Mbadi said.

He argued that unlike previous administrations, which channelled proceeds into the general budget, the current government would invest the money through the National Infrastructure Fund.

According to Mbadi, the government has already received about KSh240 billion, which has been transferred to the National Infrastructure Fund rather than being used for recurrent expenditure.

He said the money would finance commercially viable infrastructure projects, including the expansion of Jomo Kenyatta International Airport, major highways, irrigation schemes and investments in the energy sector.

“If it goes to JKIA, Kenyans will see the airport. If it goes to the Nairobi-Namanga road, they will see the dual carriageway,” he said.

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