Safaricom PLC Chief Executive Officer Dr. Peter Ndegwa has assured Members of the National Assembly that the proposed partial divestiture by the Government of Kenya will not disrupt the company’s operations or its commitment to national development.

Appearing before a joint sitting of the Parliamentary Committees on Finance & National Planning and Public Debt and Privatisation, Dr. Ndegwa addressed concerns regarding Sessional Paper No. 3 of 2025, which outlines the state's plan to reduce its shareholding in the telecommunications giant.

He also held that there will be no transfer of operational control, no dilution of regulatory authority, and no weakening of governance standards arising from the transaction adding that Safaricom’s Board,management structure, and decision making frameworks, will remain intact.

The CEO termed the divestiture move as a standard shareholder action emphasizing that the transaction is being conducted within a robust legal and regulatory framework designed to protect the public interest.

“Safaricom recognizes that the process now before this House reflects the very safeguards Parliament deliberately built into Kenya’s public finance and privatization framework,” Dr. Ndegwa stated.

He noted that from the company’s perspective, the current arrangements are designed to preserve continuity and provide the stability necessary for Safaricom to maintain its role as a critical engine of the Kenyan economy.

A key highlight of his presentation was the assurance that Safaricom’s identity as a "Kenyan brand serving the world" will remains intact. The CEO highlighted the company’s deep integration into the country’s social fabric through the telco’s communications infrastructure which powers the nation’s connectivity.

His response was sparked by queries from the Committee Members led by the Chairperson of the Departmental Committee on Finance and National Planning Hon. (FCPA) Kuria Kimani who sought to know if Safaricom would retain its Kenyan centric culture should the deal go through.

“Many Kenyans are worried if Safaricom will retain its Kenyan identity if a foreign firm acquires majority stake in the telco. How do you ensure that Safaricom retains its Kenyan centric culture and that your priorities including the pricing sovereignty responds to the needs of Kenyans”, Hon. Kimani sought to know.

Dr. Ndegwa reiterated that the firm would retain its Kenyan identity including the brand colours should the proposed deal be ratified by the National Assembly.

“Safaricom has been transforming the lives of Kenyans for 25 years. It has been a Kenyan company since inception. We will not change the brand or the green colour our customers have been accustomed to. The safeguards put as part of the deal on management identity, guarantee that the company will continue to project a Kenyan identity.

He further sought to address concerns around the economic impact of the telco which supports millions of livelihoods through strategic partnerships, if the divestiture is ratified.

He was addressing Members’ concerns relating to a decry from dealers and business people within the Safaricom ecosystem, who had expressed fears of loss of jobs and closure of businesses should the deal go through.

He told the lawmakers that he would convene a meeting of all dealers to assure them that no contractual agreements would be affected by Vodacom’s takeover as they are legally binding.

Dr. Ndegwa further expressed confidence that the transition would be handled transparently and lawfully. He reaffirmed that Safaricom would continue to operate with discipline, accountability, and purpose, regardless of the change in government ownership levels.

"We remain committed to working with this House, and to continuing our role in supporting Kenya’s digital, economic, and social transformation," Ndegwa concluded.

Asked if social impact programmes would continue if Vodacom acquired majority shareholding, Dr. Ndegwa assured the lawmakers that the initiatives would continue unhindered as they are integral to the purpose of Safaricom.

“The M-Pesa Foundation and Safaricom Foundation will continue transforming lives through sustained investment in education, healthcare, livelihoods, and community development across Kenya. These initiatives are integral to our purpose and central to how we success”, he pledged.

The joint committee is scheduled to continue its scrutiny of the Sessional Paper to assess the long-term value and implications of the divestiture for the Kenyan taxpayer.

The Committee is scheduled to commence public hearings on the matter early February in at least 26 counties, following the completion of the stakeholder engagements, today.