Letters

If there is an IPO the public is eagerly waiting for, it is Safaricom’s. Since last year, indications have been clear that the Government was keen on offloading part of its shareholding in the blue-chip company through the Nairobi Stock Exchange.

But this has not been without intrigue and it does not seem as if the IPO is out of the woods yet. Safaricom is the most profitable company in East and Central Africa. Up to March 31, it made a whopping Sh17 billion profit. It has the largest number of subscribers and they continue to soar by the day. It is a company that has no equal in the country and the region.

But the IPO is a political hot potato. However, Kenyans won’t accept to be short-changed. After all, they are the ones who have made the company what it is. If the share offer is not transparent, the political repercussions will be enormous. In addition, the IPO cannot drag on for ages. Kenyans have the money and are impatient to own it.

The IPO should be structured fairly so that there will be a chunk for employees and institutional and retail investors. To satisfy all will not be easy. But great care must be taken. Kenyans are more informed than ever before. Any tricks will be detected and strongly opposed. Kenyans support their own and this is what they have done and will do for Safaricom.

Harrison Mwirigi Ikunda, Nairobi