Nairobi — Ordinary Kenyans will be battling for a relatively small segment of Safaricom shares with investors from the East African region.

There is a strong sentimental argument for allowing East Africans to buy discounted shares in a Kenyan institution. But Safaricom, possibly the biggest company in the region, was built by Kenyan tax money through the initial investment by Telkom Kenya and is supported by the income of Kenyans.

What economic justification does Finance minister Amos Kimunya provide for using Kenyan taxpayers' money to subsidise shares for citizens of other countries?

Why can't these foreign citizens buy shares at the market rate?