"Tuko Pamoja" Junet Mohamed Backs Ruto's Plan to Sell Safaricom and KPC Shares to KSH300 Billion to Support Singapore Vision

Minority Leader in the National Assembly, Junet Mohamed, has publicly thrown his weight behind President William Ruto’s proposal to sell part of the government’s shareholding in Safaricom and the Kenya Pipeline Company (KPC), calling it a bold but necessary move to unlock billions for national development.

Speaking on the proposal, Junet said Kenya is facing an urgent financing gap that cannot be filled through taxation or borrowing alone.

He noted that selling a portion of government-owned shares in profitable state-backed firms would allow the Treasury to raise more than Sh300 billion without increasing the burden on ordinary Kenyans.

According to Junet, Safaricom and KPC remain strong, profitable, and well-managed companies even if the government reduces its ownership. He argued that the State does not have to be a majority shareholder to benefit from their success.

Instead, Kenya would continue earning dividends, corporate taxes, and other revenues while also freeing up capital to invest in urgent national priorities.

President Ruto’s plan aims to use the proceeds from the sale to fund key development projects, including roads, affordable housing, water infrastructure, energy expansion, healthcare facilities, and industrial parks.