Big Blow to Ruto as Court of Appeal Upholds Ruling Against Safaricom Share Sale

President William Ruto’s administration has suffered a major legal setback after the Court of Appeal rejected an application seeking to suspend a High Court judgment that nullified the sale of the government’s 15 per cent stake in Safaricom PLC to Vodacom.

In a ruling delivered on Tuesday, October 13, 2026, a three-judge bench declined to grant the government and Vodacom orders that would have suspended the earlier judgment pending the determination of their intended appeal.

The decision leaves the September 15 High Court ruling in force as the legal battle over the multibillion-shilling transaction continues.

According to People Daily, the appellate court bench comprised Justices Luka Kiprotich Kimaru, Johnson Okello and Kathurima M’Inoti.

The judges determined that the applications seeking to suspend the High Court decision had failed to meet the required legal threshold.

The court consequently rejected the applications for lacking merit, dealing another blow to the government’s efforts to preserve the transaction while challenging the earlier judgment.

The dispute centres on the sale of a 15 per cent government stake in Safaricom to Vodacom, a transaction valued at approximately KSh204.3 billion.

The High Court had declared the sale unconstitutional and null and void, raising serious questions about the legality of the process through which the government disposed of part of its shareholding in one of Kenya’s most important companies.

The September judgment placed the transaction under intense scrutiny, particularly regarding constitutional requirements, transparency and public participation.

Following the ruling, the government moved to challenge the decision, arguing that the transaction was lawful and seeking to prevent the immediate implementation of the orders before its appeal could be heard and determined.

National Treasury Cabinet Secretary John Mbadi and Attorney General Dorcas Oduor were among the government officials involved in efforts to challenge the judgment.

The government had previously raised concerns about the financial and practical consequences of reversing the transaction, including the treatment of the proceeds received from the sale and the transfer of shares to Vodacom.

However, the latest decision means that the government and Vodacom have not obtained the temporary suspension they sought from the appellate court.

https://peopledaily.digital/business/blow-to-rutos-govt-as-court-of-appeal-upholds-ruling-on-safaricom-share-sale?fbclid=IwY2xjawU7CRhleHRuA2FlbQIxMQBwZG9mBXNydGMGYXBwX2lkDDM1MDY4NTUzMTcyOAABHv4F9H94dSvCnqtJ4308z0740xfb8up97-kkRrNtPEMNClUUbzdeewAt9M32_aem_lW3zSbKMdsuIAVKXYV9pfA

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