Three-judge bench quashes 15% government shares sale in Safaricom PLC

The sale of the Safaricom shares to Vodafone failed the public participation test, making the process illegal. The High Court judges comprising Justice Francis Gikonyo, Lady Justice Roselyne Aburili and Lady Justice Fridah Awiyo say the transaction failed to undertake meaningful public participation as prescribed in the Constitution. The three-judge bench has directed that the 15 per cent shares be returned to the National Treasury. The sale was executed in April this year with the funds directed to the National Infrastructure Fund. Connect with KBC Online; Subscribe to our channel: https://t.ly/86BKN Follow us on Twitter: https://twitter.com/KBCChannel1 Find us on Facebook: https://www.facebook.com/kbcchannel1tv Check our website: https://www.kbc.co.ke/ #KBCchannel1 #Kenya #News