'Economic abduction!' Opposition to appeal court ruling clearing Safaricom stake sale to Vodacom

Barely four days after the government completed the sale of a 15 per cent stake in Safaricom to South Africa's telecom giant Vodacom Group, the opposition has renewed its legal battle against the transaction.

The opposition is challenging the Court of Appeal decision that lifted conservatory orders, clearing the way for the sale to proceed.

Wiper Party leader Kalonzo Musyoka, who spoke at his command centre in Karen, Nairobi, questioned what he described as the National Treasury's haste in concluding the multi-billion-shilling deal before the High Court has delivered its final determination on the matter.

"We respect the courts, but Kenyans are entitled to ask: if the matter is still pending in court, what protection does constitutional litigation offer? We maintain this sale was undervalued and opaque," said Kalonzo.

Democratic Party leader Justin Muturi added, "As much as we respect the court decision, we will not be swayed by this corrupt regime of William Ruto."

Kalonzo claimed the government lost about Ksh.16 billion in the Ksh.244.5 billion deal, saying the money would have been earned through Safaricom's full-year profits had the State retained its stake.

"Why give away Ksh.16 billion instead of waiting for the High Court decision? Why the haste? Buyer beware, this is economic abduction," he said.

"Where was the Competition Authority? Where are they? We need to hear their voice," JB Muturi added.

Kalonzo said the opposition will still challenge the court decisions despite the sale.

"This is not an effort in futility. This is a live matter. The court can still rule that this was an illegal sale and reverse the whole thing. We are saying buyer beware because this is an economic abduction," Kalonzo noted.

The case petitioner Tony Gachoka added: "We are waiting for the High Court ruling on the 17th of August, then go all the way."