JSE-listed Vodacom Group has completed the acquisition of an additional 20% effective stake in Safaricom, increasing its shareholding to about 55%.
This followed the staying of a conservatory order by the Court of Appeal of Kenya on June 26 and the fulfilment of all remaining conditions precedent, allowing the consolidation of one of Africa's foremost telecommunications, financial services and technology businesses.
The $2.1-billion (R35-billion) transaction, first announced in December 2025, comprised Vodacom’s acquisition of a 15% stake from Kenya’s government and an effective further 5% from Vodafone Group, at KES34 a share.
The Kenya government retains a 20% stake in Safaricom, which is listed on the Nairobi Securities Exchange.
“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 Group CEO Shameel Joosub.
