MP Nyoro warns government could lose KSh 250 billion in Safaricom share sale debate

The Controversy over the Partial sale of Safaricom shares took a new twist after Kiharu Member of Parliament, Ndindi Nyoro, told the Joint Committee on Finance and Privatization that the country stands to lose Billions of shillings for not using a competitive International Bidding process in the divestiture. The Kiharu Legislature, which urged the Parliamentary watchdog not to adopt the government’s proposed process, faulted the Communications Authority for initiating an 80 billion shillings loss through a controversial waiver on renewal of licenses, through a Conditional Precedent, before the transaction.