Ndindi Nyoro Amasauri Ruto to sell government shares in Safaricom instead of borrowing arbitrarily

• Kiharu MP Ndindi Nyoro held that Kenya could fall into debt stress while public debt approached KSh 11 trillion
• Nyoro warned President William Ruto’s administration against heavy borrowing, warning that it would challenge taxpayers in the future
• The MP and former Chairman of the Budget allocation committee participated

Former Chairman of the National Assembly Allocation Committee Ndindi Nyoro has shared alternatives that Kenya can gain funding and reduce borrowing.

Nyoro held his original position, warning that the country could fall into debt stress.

The Kiharu MP said the administration of Kenya first You should be sensible in debt management, which currently reaches approximately KSh 11 trillion.

“We must be very careful in the management of our debt. Let us not want it, this is a serious threat we face as an economy,” Said Nyoro, while addressing his constituents on Thursday, April 24.

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How Kenya can control the increase in debt

Nyoro shared alternatives to which the country can manage public debt, citing the proper use and management of public debt.

The MP said government ownership in the company as Safaricom PLC, you are enough to get money borrowed out.

“There is a better way we can manage and use our public resources instead of blaming taxpayers for borrowing too much. Government resources are available to make money for development … for example, government shares in Safaricom are approximately KSh 300 billion. The MP explained.

Nyoro proposed the sale of part of its shares in Telco to get budget funding, adding that the government can still influence decisions in the company.

“Ownership was more before. By selling only a share of the stock, we can collect the money we borrow and still continue to influence the decision in Safaricom through the regulators.

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“But if we continue to borrow we will overwhelm our next generation, we must look for alternatives, if the country is in a state of failure to repay the loans, its effects are a disaster,” He said.

How much does the Government have in Safaricom?

Meanwhile, in the financial year ending in March 2025, the largest telecommunications company paid a dividend of KSh 22.04 billion to shareholders, including the Kenyan government.

According to the national treasury, the government is one of the biggest shareholders in Safaricom, which owns a stock of 35%.

Safaricom paid KSh 0.55 for each shares time in February 2025, translating KSh 7.7 billion paid to the national treasury.

Apart from Safaricom, the Treasury also received dividend payments from companies that hold the largest stock.

These companies include KCB Group, Kenya Pipeline Company, Kenya Ports Authority and Kengen.

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Source: TUKO.co.ke