The High Court has ruled that the government's plan to sell its stake in Safaricom is unconstitutional, dealing a blow to President William Ruto’s financial strategy. The decision comes as the government sought to raise billions of shillings to bolster the National Treasury. The ruling casts uncertainty over a deal that was expected to provide a major cash injection during a period of fiscal pressure.
The court’s decision highlights legal challenges to the government’s economic policies, raising questions about the feasibility of future financial initiatives. Safaricom, a key telecommunications company, plays a central role in Kenya’s digital economy. The ruling may prompt a reassessment of how the government plans to fund public services and infrastructure projects.
Legal experts suggest the decision could lead to a prolonged legal battle, delaying the sale and affecting market confidence. The government has not yet announced its next steps, but the ruling signals a shift in the political and legal landscape surrounding state-owned enterprises. The outcome could influence future economic reforms and public spending strategies.
