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The National Treasury is facing growing pressure to meet strict parliamentary conditions required for the sale of a 15 per cent stake in telecoms giant Safaricom to South Africa’s Vodacom before the April 1 deadline for the Sh244.2 billion deal.
Parliament last week approved the controversial sale but added strict conditions, including a permanent ban on job cuts linked to the deal, protection of Safaricom’s local dealers and agents for 10 years, and directing all proceeds to a new National Infrastructure Fund.
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