Fresh Details Emerge on Safaricom’s Ksh245 Billion Sale to Vodacom

Welcome to the Money News Roundup. Today, we break down the new powers the government and Vodacom will have under the Safaricom ownership deal. We also look at the courses most preferred by the 2025 KCSE candidates.

Govt to Get Final Say on Safaricom's Expansion Beyond Kenya and Ethiopia 

The Kenyan government will gain veto powers over Safaricom's expansion into new markets beyond Kenya and Ethiopia under proposed changes to the company's Articles of Association.

As reported by the Business Daily, the amendments, to be tabled at the July 31 annual general meeting, require government approval before the telecom giant enters any new territory. 

The move follows the transfer of the State's 15% stake in Safaricom to Vodacom, raising the South African firm's ownership to 55%. The sale of government shares is estimated at Ksh245 billion. 

However, with an additional purchase of 5% stake from Vodafone, the deal rises to Ksh271 billion.

The proposals also give Vodacom the right to nominate future Safaricom chief executives.

Under the proposed changes, Safaricom's board will appoint the chief executive from a shortlist of candidates nominated by Vodacom as long as the multinational owns more than 50% of the company's issued share capital.

Meanwhile, the deal entrenches the firm's dividend policy of paying out at least 80% of net profit. 

The government, which retains a 20% stake, is seeking to protect dividend income and limit capital-intensive expansion after Safaricom's Ethiopia venture, which has required billions of shillings in investment, slowed growth in shareholder payouts despite nearing profitability.

Kenya's Wealthiest Investors Add Ksh39.5 Billion as NSE Rally Continues

Kenya's wealthiest stock market investors have gained a combined Ksh39.51 billion on paper over the past year as the NSE extended its recovery, adding Ksh1.29 trillion in investor wealth to reach a record market capitalisation of Ksh3.95 trillion. 

As reported by the Business Daily, the rally has been driven by strong gains in blue-chip stocks, particularly banks, alongside new listings such as Kenya Pipeline Company and Family Bank.

Among the biggest gainers are the Shah family of I&M Group, whose stake appreciated by Ksh7.2 billion, the Ndegwa family with Ksh5.97 billion, the Kenyatta family with Ksh5.27 billion, and Equity Group CEO James Mwangi, who gained nearly Ksh4.9 billion across Equity and Britam shares.

 Co-operative Bank CEO Gideon Muriuki added Ksh2.32 billion, while veteran investor Baloobhai Patel booked about Ksh4.89 billion in gains across several counters.

The strong performance follows record market gains in 2024 and 2025, cementing the NSE's recovery after years of subdued trading and restoring billions of shillings in shareholder wealth.

Mbadi Appoints Six Board Members to the National Infrastructure Fund 

Treasury Cabinet Secretary John Mbadi has appointed six members to the Board of the National Infrastructure Fund (NIF), paving the way for the full operationalisation of the state-backed infrastructure financing vehicle.

As reported by Kenyans.co.ke, The newly appointed board members are James Mworia Mwirigi (CEO of Centum Investments), Fahima Ali Ahmed Zein, Christopher Kibui Maranga, Latoya Ouna, Lawrence Kibet and Mohammed Abdirahman Hassan.

The fund, seeded with Ksh103.45 billion from the sale of a 65% stake in Kenya Pipeline Company, is expected to finance major projects, including part of the Ksh155 billion JKIA modernisation programme.

The fund will also hold the more than Ksh200 billion the State expects to receive from the sale of its Safaricom shares to Vodacom.

8,976 Students Turn Down University Admission; Opt for TVET Courses

Nearly 9,000 students who qualified for university admission in the 2025 KCSE examinations opted for diploma and certificate courses instead of degree programmes, reflecting growing interest in technical and vocational education. 

As reported by Nation, Education CS Julius Ogamba said 8,976 eligible candidates chose TVET pathways, up from 7,640 last year.

Meanwhile, 51,835 students who qualified for university admission did not apply for placement at all. 

KUCCPS placed 202,133 students in degree programmes, 28,246 at KMTC, 765 at Kenya Utalii College, 875 in teacher training colleges and 500 in Diploma in Law programmes. 

Education courses emerged as the most popular choices among applicants, while medicine, pharmacy, dentistry and nursing also recorded strong demand despite limited vacancies. 

Kenya Becomes Second-Largest Weapons Importer in Africa

Kenya became Africa's second-largest importer of major conventional arms in 2025 after military imports surged more than sixfold, according to the Stockholm International Peace Research Institute (SIPRI). 

As reported by the Business Daily, the country imported 117 million Trend-Indicator Value (TIV) worth of arms, up from just 19 million TIV in 2024, reflecting increased investment in national security and defence modernisation amid growing regional instability. 

SIPRI's data also shows Israel remained Kenya's largest arms supplier between 2020 and 2025, accounting for over 40% of all major military imports, followed by Italy and the United States.

The imports included air-defence systems, aircraft, armoured vehicles, artillery, and engines.

Court Rules Second Wife Can Inherit Estate Despite Invalid Marriage

The High Court has ruled that a woman whose customary marriage was legally invalid because her husband was still in a monogamous marriage is entitled to inherit from his estate under the Law of Succession Act. 

As reported by Citizen Digital, Justice H.K. Chemitei held that Jane Jerry Kioko qualifies as a wife of the late Ndolo Kioko Musyimi under Section 3(5) of the Act and appointed her a joint administrator of his estate alongside his children. 

The judge found that although the second marriage was technically void, the law protects women who unknowingly enter such unions. 

Evidence showed the deceased publicly acknowledged Jane as his wife, lived with her and had two children with her. Distribution of the estate will be determined in later proceedings.