By Hyline Ocharo & Monica Nashon
Residents of Kisii County want proceeds from the proposed Safaricom share sale strictly used for development projects, warning against recurrent spending and corruption.
The residents spoke during a public participation forum held at the Kisii Agricultural Training Centre, convened by joint parliamentary committees on Finance and National Planning, and on Debt and Privatization, as Parliament gathers public views ahead of debate on the proposal.
At the centre of the discussion is a plan by the National Treasury to sell 15 percent of the government’s 35 percent stake in Safaricom, a move expected to raise billions of shillings amid Kenya’s mounting public debt.
Robert Omosa, a resident of Kisii County, said while many Kenyans were not opposed to the sale itself, they wanted clear guarantees on how the money would be used.
“The proposal for the government to offload 15 percent of its 35 percent shares in Safaricom is good, but we want the funds to have an impact for all Kenyans,” Omosa said.
He suggested that part of the proceeds be directed toward improving public schools and increasing capitation to learning institutions, arguing that education remains one of the most effective long-term investments.
Other residents echoed concerns about accountability, insisting that the funds must be ring-fenced for capital projects such as roads, healthcare facilities and infrastructure that directly benefits citizens, rather than being absorbed into day-to-day government spending.
Homa Bay Town MP Peter Kaluma, who is leading the joint parliamentary teams, said the public participation exercise is a constitutional requirement and aimed at ensuring wananchi influence the final parliamentary decision.
“We are a joint committee sitting on behalf of Parliament, moving around the country to collect views from Kenyans on the proposed sale of 15 percent of the government’s shares in Safaricom,” Kaluma said.
“This is not the first time the government is reducing its shareholding. Initially, the government owned 100 percent of Safaricom, but today it holds about 35 percent.”
Kaluma said the committees had already held forums in Mandera, Wajir, Vihiga, Kisumu, Kakamega and Kisii, and were expected to proceed to Homa Bay.
According to the lawmaker, feedback from Kisii mirrored sentiments expressed elsewhere in the country.
“People are supporting the sale of the shares, but they want the money to be ring-fenced and used for infrastructure projects. They do not want graft to be involved like what happened with the Eurobond,” Kaluma said.
He defended the proposal by placing it within the context of Kenya’s growing debt burden, noting that former President Mwai Kibaki left office with a national debt of about Sh1.4 trillion, which rose to approximately Sh11 trillion by the end of former President Uhuru Kenyatta’s tenure — a debt inherited by President William Ruto.
Kaluma said Kenya’s total public debt has since exceeded Sh12 trillion, with the government currently paying about Sh1.1 trillion annually in interest, against KRA collections of roughly Sh2.5 trillion.
“Our budget is over Sh3 trillion, yet a significant portion of what we are paying today goes into servicing past loans,” he said.
Flanked by Nyaribari Masaba MP Dr. Daniel Manduku, Kaluma said proceeds from the Safaricom share sale would be used to develop marginalized regions, expand road infrastructure and support the construction of a modern international airport to complement Jomo Kenyatta International Airport (JKIA).
“Ethiopia and Uganda are constructing modern international airports. Our JKIA has limitations, including security challenges. We want roads that open up the country and better transport infrastructure,” he said.
Karachuonyo MP Adipo Okuome, who also attended the Kisii forum, said residents were particularly concerned about transparency.
“People are concerned about where the proceeds will go and whether they will be used for the intended purpose. They are worried about corruption from the time the money is received to when it is utilized,” Okuome said.
He assured residents that their views would be presented to Parliament and that oversight mechanisms would be strengthened.
“We will take these concerns to Parliament and ensure proper oversight so that the proceeds are used strictly for development purposes,” he added.
Already, the proposal transaction has triggered intense national debate with Kiharu MP Ndindi Nyoro, a former Budget and Appropriations Committee chair, warning that the planned sale could undervalue Safaricom shares and deny Kenyans the chance to participate through an open market offer.
Nyoro has argued that disposing of the shares through a negotiated deal, rather than a public offer at the Nairobi Securities Exchange, risks short-changing the taxpayer and weakening public confidence in the process.
The debate is heightened by Safaricom’s central role in Kenya’s economy. As the country’s most valuable listed company, Safaricom is a major taxpayer and dividend payer to the Exchequer, while its mobile money platform M-Pesa underpins daily transactions for millions of Kenyans, from households and small businesses to government services.
For many citizens, Safaricom is not just a telecoms firm but a critical national asset tied to financial inclusion, digital services and economic stability — a factor that has intensified calls for transparency and accountability in any change to government ownership.