COTU Secretary General Francis Atwoli has criticised leaders who, he says, are narrowing the debate on the Safaricom share sale to technical details rather than focusing on its broader impact on Kenya’s economy.
In a statement shared on X, Atwoli emphasised that the partial divestiture of Safaricom shares is not an end in itself, but a means to achieve national transformation.
He said the sale should drive infrastructure development, industrial growth, job creation, and protect the dignity of Kenyan workers.
“Those, like Ndindi Nyoro, who reduce this conversation to debatable pricing formulas and transactional mechanics, while ignoring crippling infrastructure gaps, unemployment, and the high cost of living, are, wittingly or unwittingly, delaying Kenya’s development,” Atwoli said.
The trade union leader urged policymakers and the public to view the transaction through a development lens, warning that a fixation on valuation alone could overshadow the intended socio-economic benefits.
The remarks come amid heated discussions over government-led divestitures of strategic assets, with critics questioning transparency and pricing.
Atwoli, however, framed the debate around outcomes rather than numbers, stressing that resources generated from the share sale should fund projects that directly benefit workers and citizens.
COTU’s stance signals organised labour’s support for prioritising long-term national development over short-term financial arguments.
Atwoli called for a shift in the public discourse, encouraging a focus on tangible gains such as employment, industrialisation, and improved infrastructure.
As Kenya continues to navigate debates around strategic asset management, Atwoli’s intervention highlights a tension between technical financial considerations and broader socio-economic objectives.
The discussion around Safaricom’s divestiture is expected to remain central in Parliament and among economic stakeholders in the coming weeks.