Junet backs sale of State's KPC, Safaricom shares

When Suna East MP Junet Mohamed hosted President William Ruto in Suna East. [Junet Mohamed, X]

Minority leader in the National Assembly, Junet Mohamed, has backed President William Ruto’s proposal to sell government shares in Safaricom and the Kenya Pipeline Company (KPC), arguing that the move is necessary to raise more than Sh300 billion to finance key development projects.

Speaking at Tabaita Location in Soin/Sigowet Constituency, Junet defended the plan, saying privatisation was not new in Kenya and had been undertaken by successive administrations to improve efficiency and raise capital.

Junet, who was accompanied by Senate Majority Leader Aaron Cheruiyot, said the United Democratic Alliance (UDA) administration was justified in pursuing the sale, noting that the proceeds would be directed towards development initiatives across the country rather than recurrent expenditure.

“A company performs better when it is privatized because government-run firms have struggled for years,” Junet said.

The Suna East MP dismissed criticism of the proposal, citing past privatisations such as KCB, Telkom, and KenGen, and accused opponents of ignoring history.

“Those opposing the sale of Safaricom and KPC should wait until they get a chance to run the government and make their own decisions,” he said.

Senator Cheruiyot said the sale of shares in Safaricom and KPC would unlock funds for long-stalled infrastructure projects.

 “The funds raised will go a long way in supporting critical projects such as the Koru–Sondu Dam, which is expected to improve water supply in the region,” Cheruiyot said.

He added that proceeds from previous privatisations were channeled to projects in specific regions at the expense of others, saying areas that had previously benefited should allow the current administration to address long-neglected regions.

The proposed sale of government stakes in major state-linked firms has sparked sharp debate across the political divide, with supporters viewing it as a practical financing option for development, while critics warn it could weaken public control over strategic national assets.