Cabinet cancel the government’s purchase of a 60% stake in Telkom Kenya

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The cabinet has announced its decision to cancel the government’s purchase of a 60% stake in Telkom Kenya, worth just over Ksh6 billion.

In a dispatch to editors after a meeting chaired by President William Ruto, said the government will now ask Jamhuri Holdings and Helios Investment Limited to refund the said amount for the acquisition .

The investigation into the controversial takeover of Telkom Kenya in March this year has taken a turn after former Finance Cabinet Secretary Ukur Yatani revealed that the government was the major shareholder.

Speaking while appearing before the parliamentary committee investigating the takeover, Yatani said contrary to claims that the government had paid and not received shares of Helios Limited, all transfer documents were located in the National Treasury.

However, he told the joint committee that the shareholding status at that time was not changed in the state law office because of the Telkom Kenya board, which was supposed to initiate the changes. changed, was not validly established.

Yatani later said the payment was approved after a session of the National Security Advisory Council which wanted Telkom to be fully owned by the government as it manages key security facilities including Office of the President,

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