The National Treasury of Kenya is set to receive Sh204.3 billion from the sale of a 20 percent stake in Safaricom, according to Cabinet Secretary John Mbadi. The government sold over 6 billion ordinary shares to Vodacom at Sh34 per share, following a Court of Appeal ruling that cleared the deal. This acquisition increases Vodacom's ownership in Safaricom PLC to 55 percent, establishing it as the majority shareholder.

Treasury Cabinet Secretary John Mbadi has explained the government's decision to reduce its stake in Safaricom from 35 percent to 20 percent, stating that the government was already a minority shareholder prior to this transaction. He addressed the press on July 4, defending the move as part of the government's strategy regarding its investment in the telecommunications company.

Vodacom has gained majority control of Safaricom, acquiring a 55% stake in the company. This development comes alongside the Communications Authority's decision to penalise telecommunications companies for subpar service. Additionally, MTN has stated that protests regarding migration have not affected its operations, according to Techpoint Africa.

Treasury Cabinet Secretary John Mbadi defended the budget allocation for renovations at State House, stating that the building has been neglected for years. He addressed criticism regarding the spending by emphasizing the broader responsibilities of the presidency and the need to restore key government facilities. Mbadi noted that parts of State House are deteriorating, with leaks that he deemed embarrassing for a nation that frequently hosts international dignitaries.

Interior PS Dr. Raymond Omollo stated that the Kenyan government is committed to equitable development through ongoing investments in infrastructure, education, healthcare, and public administration. These efforts are designed to improve livelihoods and expand opportunities for all Kenyans, according to KBC.

South African firms are intensifying their investments in Kenya's corporate sector, with planned acquisitions totaling approximately Sh413 billion. This strategy aims to use Nairobi as a gateway into East and Central Africa. Notably, Absa Group has announced intentions to increase its stake in Absa Bank Kenya from 68.5 percent to a higher percentage.