Government appeals ruling voiding Safaricom share sale

The government has appealed a High Court decision that declared the sale of part of its stake in Safaricom null and void. Attorney General Dorcas Oduor and National Treasury Cabinet Secretary John Mbadi are asking the Court of Appeal to overturn the judgment by a three-judge High Court bench, which nullified the partial divestiture of 15 percent of the government’s shareholding in the mobile service provider. The two senior government officials have told the appellate court that the 204.3 billion shillings in proceeds from the sale are non-refundable. They also argue that the shares in question are already quoted securities in a listed company. Seth Olale has more details.