Gachagua Accuses Government of Undervaluing Safaricom Shares, Sparks Fresh Debate on State Asset Sales
Although Gachagua’s valuation remains unverified, critics have challenged his assertions, arguing that if he is confident about the higher worth, the government should consider selling its shares to him directly at KSh 70, well above the current market trading price of KSh 29
By : Mweru Mbugua
Former Deputy President Rigathi Gachagua has accused the government of grossly undervaluing Safaricom shares, alleging they are being sold at KSh 34 despite what he insists is a true market value of KSh 70 to KSh 80 per share
Although Gachagua’s valuation remains unverified, critics have challenged his assertions, arguing that if he is confident about the higher worth, the government should consider selling its shares to him directly at KSh 70, well above the current market trading price of KSh 29
Such a sale, they argue, would secure significantly higher returns for taxpayers while addressing concerns over alleged undervaluation of strategic assets
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The debate adds to the growing scrutiny over the government’s handling of state investments amid rising calls for transparency, fair valuation, and public accountability in major
