upepo
Elder Lister
By the time these guys leave office, the country will have been looted dry. This is a significant transaction that requires serious public participation.
Ruto has been claiming that high pension contributions will save us from reliance on foreign funding. Why couldn't he sell Safaricom to NSSF and other pension schemes? That way, the government would get the cash it needs and the company would remain locally owned.
Why couldn't we wait for the Sovereign Wealth Fund to be established and we sell the stake to the Fund for the benefit of future generations?
The proposed premium price per share over current market price is very low. Safaricom once traded at KSh 45 per share. That was three years ago so today it is worth more.
Even if we need to sell the stake, why couldn't we invite competitive bids from any interested parties locally and abroad? That's what Ethiopia did with EthiotelcomThis sale amounts to single sourcing and is probably illegal and is certainly not beneficial to the country.
Why are we in a hurry to dispose off such as a precious asset in what looks like a fire sale? Didn't the president just boast this week about how well the economy was doing?
