Vodacom upgraded its 2030 ambition for financial services customers to 130 million, from 120 million at the end of its 2026 financial year. The group has also successfully completed its 20% acquisition of an additional stake in East Africa telecoms group Safaricom.
Vodacom Group said Tuesday its R35 billion acquisition of an additional 20% stake in Safaricom to gain majority shareholder control has completed and will unlock new opportunities for digital and financial inclusion in Kenya and Ethiopia.
The completion of the deal follows the staying of a conservatory order by the Kenya Court of Appeal on June 26, 2026, and the fulfilment of all condition's precedent. This means that Vodacom's shareholding in Safaricom has increased to about 55%, allowing consolidation of one of Africa's foremost telecommunications, financial services, and technology businesses.
“This is a landmark moment for Vodacom, for Safaricom, and for the communities we serve across East Africa. Acquiring majority ownership in Safaricom strengthens our position as a market leader, while at the same time unlocking new opportunities to drive digital and financial inclusion at scale in Kenya and Ethiopia,” said Vodacom CEO Shameel Joosub in a statement.
