The Kenyan government is set to receive more than Sh200 billion following the sale of a 15 percent stake in Safaricom to South Africa’s Vodacom group, according to National Treasury Cabinet Secretary John Mbadi.

The funds are expected to be credited on Friday and will be directed into the National Infrastructure Fund (NIF), which is managed through accounts at the Central Bank of Kenya.

Mbadi expressed confidence that the transaction would be completed on schedule, noting that the government had already prepared the fund structure for the inflow.The deal follows a recent Court of Appeal decision that lifted earlier conservatory orders which had temporarily blocked the transaction.With the legal hurdle cleared, the government was able to proceed with the partial divestment of its stake in the telecommunications company.

After completion, Vodacom’s subsidiary Vodafone Kenya Limited increased its shareholding in Safaricom to 55 percent, making it the majority shareholder.

In contrast, the Kenyan government’s stake has reduced from 35 percent to 20 percent, while public investors continue to collectively hold 25 percent of the company.

According to Treasury reports, the National Infrastructure Fund already holds around Sh103 billion, which came from the Kenya Pipeline Company IPO proceeds.

The additional Safaricom funds are expected to significantly strengthen the fund, which is designed to finance large-scale infrastructure projects across the country.

The government has indicated that these investments will support development in transport, energy, and other key national priorities aimed at boosting economic growth and improving public services.