Kenya: Mbadi Says Vodacom Deal Offers Better Value Than NSE Share Price

Mbadi told a joint parliamentary committee that the terms offered to shareholders are more attractive than what investors would receive by trading the stock on the open market.

He explained that the government’s decision to avoid a second Safaricom IPO was driven by concerns over market saturation, pricing risks and the need to attract foreign currency inflows.

Speaking on the rationale behind the move, Mbadi noted that the government is already preparing to introduce another major state asset,…