Safaricom Dealers Emphasised as Backbone of Operations During Parliament Divestiture Hearings

Nairobi — Safaricom dealers have highlighted the critical role they play in the operations of Kenya’s largest telecom company, as Parliament continues to consider the proposed partial divestiture of the Government’s stake in Safaricom PLC.

On Day Three of stakeholder engagements on Sessional Paper No. 3 of 2025, the Joint Committee of the Departmental Committee on Finance and National Planning and the Select Committee on Debt and Privatisation held discussions with Safaricom dealers, led by Dr Esther Muchemi, Group CEO of the Samchi Group.

During the hearings, dealers stressed the importance of business stability, continuity, and protection of local partners amid any changes in ownership. They emphasised that Safaricom’s network of dealers, M-Pesa agents, and local partners underpins the company’s operations, delivering services to millions of Kenyans.

After listening to the presentations, several Committee members acknowledged that Safaricom without its dealers would be “an empty shell”, recognising for the first time the essential role played by dealers and agents in driving the company’s success.

The dealers also called for a carefully managed transition, assurances that ongoing corporate social responsibility programmes, including the Safaricom Foundation, would continue, and for transparency in the valuation and divestiture process to maintain investor confidence.

Concerns were raised about the potential impact of the sale on Safaricom’s share price and liquidity at the Nairobi Securities Exchange (NSE), which could directly affect dealer-related investments and the broader digital economy.

The hearings underlined a critical point: while discussions around the partial divestiture focus on government stakes and corporate valuations, it is the dealers and M-Pesa agents who form the backbone of Safaricom, and their interests are central to any successful transition.

The Joint Committee is expected to continue receiving stakeholder input before submitting its report to Parliament.