The Court of Appeal is expected to deliver its ruling next Friday in a case filed by the government seeking to overturn conservatory orders that temporarily halted its plan to sell Safaricom shares worth approximately KSh205 billion.
The government is challenging a High Court decision that suspended the transaction, arguing that the orders have disrupted its privatization agenda and delayed a key financial strategy involving the disposal of state-owned shares.
The proposed sale involves the government’s stake in Safaricom, one of Kenya’s most profitable listed companies. The transaction is part of broader efforts to unlock value from public assets, raise revenue, and support the national budget.
The High Court had earlier issued conservatory orders stopping the sale pending the determination of a petition challenging the legality and transparency of the proposed divestiture.
In its appeal, the government is seeking to have those orders lifted, maintaining that the suspension has stalled important economic plans and interfered with the implementation of government policy.
The case has attracted significant public interest due to the scale of the proposed transaction and its potential implications for public finances and Kenya’s capital markets.
The Court of Appeal’s ruling on Friday is expected to determine whether the government can proceed with the KSh205 billion transaction or remain barred from doing so pending the full hearing and determination of the case.
