Courts: Kenya
Key Facts
—Ruling. The High Court’s judgment of Wednesday 4 November 2026 dismissed broker Suntra Investments’ appeal.
—Shares. 212,500 Safaricom shares from its 2008 public share offer, now worth about Sh7.3 million (US$56,200).
—Dividends. Suntra was also ordered to pay Sh2.4 million (about US$18,500) in accrued dividends. Sh means Kenyan shillings.
—Claimant. Wanjugi Discount Stores Limited, which complained to Kenya’s Capital Markets Authority on 18 June 2020.
Kenya’s High Court has backed a regulator’s order that stockbroker Suntra Investments restore shares in Safaricom, the Kenyan mobile operator. Business Daily, a Nairobi business newspaper, reported the ruling on 11 November 2026.
What the Court Decided
Business Daily reported on 11 November 2026 that the Capital Markets Authority (CMA), Kenya’s securities regulator, ordered Suntra on 14 September 2023 to restore the shares and compensate Wanjugi Discount Stores Limited. The paper says an earlier appeal at the Capital Markets Tribunal, the body that hears appeals against CMA decisions, was dismissed on 17 April 2025, and the High Court dismissed Suntra’s further appeal on 4 November 2026.
The shares were wrongly allocated to two other people 18 years ago, Business Daily said, after Wanjugi applied through Suntra for one million shares. They were bought for Sh1.06 million (about US$8,200) and are now worth Sh7.3 million (about US$56,200), converted at Sh129.85 per US$.
“The appellant did not stop being Wanjugi Discount Stores Limited’s agent once the form left its office,” the court said, as quoted by Business Daily. For background on Safaricom, see our report on its half-year profit and our Kenya news page.
What Is Not Known
The judge’s name and the case number are not given in the report, and it does not say whether Suntra will appeal further. This brief rests on that single named report.
Frequently Asked Questions
What did the High Court order?
It dismissed Suntra Investments’ appeal against the Capital Markets Authority’s order to restore 212,500 Safaricom shares, according to Business Daily. The judgment was delivered on 4 November 2026.
Who is Suntra?
Suntra Investments is a stockbroker, according to Business Daily. The report says it was also ordered to pay Sh2.4 million (about US$18,500) in accrued dividends.
Sources: Business Daily Africa, “Court orders Suntra to restore lost Safaricom IPO shares”, 11 November 2026. Exchange rate: RT, 12 November 2026.
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