Kiharu MP Ndindi Nyoro has called for the return of Safaricom shares transferred to Vodacom following a High Court ruling that declared the transaction unconstitutional.

Nyoro’s demand comes after the High Court nullified the government’s decision to sell a 15 per cent stake in Safaricom to Vodacom.

The court found that the process was carried out without adequate public participation as required by the Constitution. The judges also raised concerns about the information provided during the transaction, saying important details had not been properly disclosed.

The government had agreed to sell the 15 per cent stake for about KSh204.3 billion at KSh34 per share. The transaction was part of a wider plan by the government to raise funds through the sale of some state assets.

Following the court decision, Nyoro argued that the ruling should now lead to the reversal of the transaction.

He called on Vodacom to return the Safaricom shares affected by the deal, saying the court’s decision had effectively invalidated the process through which the shares were transferred.

The ruling has placed fresh focus on how government-owned assets are sold and the role of Parliament and the public in approving such transactions.

The three-judge bench found that the transaction was not subjected to meaningful public participation. The judges also said the process involved obscurities, misrepresentation and concealment of important information.

The court further found that the sale was a public policy decision and therefore had to comply with constitutional requirements.

The ruling could now have major implications for the ownership structure of Safaricom and the government’s plans to dispose of other state assets.

It also gives fresh weight to earlier concerns raised over the price at which the Safaricom shares were being sold and whether the public was receiving fair value for a major national asset.

Nyoro had previously questioned the proposed sale and called for greater scrutiny of the transaction.

The latest court decision is therefore expected to fuel further debate over the future of the Safaricom shares and the government’s broader asset-sale programme.