Vodacom Group has completed the acquisition of an additional 20% effective stake in Safaricom PLC, increasing its shareholding to approximately 55% and cementing its position as the majority shareholder in East Africa’s largest telecommunications company.
The acquisition follows the lifting of a conservatory order by the Court of Appeal of Kenya on June 26, 2026, and the fulfilment of all remaining conditions required to complete the transaction.
Valued at approximately Ksh.35 billion (US$2.1 billion), the deal was first announced in December 2025. Under the agreement, Vodacom acquired a 15% stake from the Government of Kenya and an effective additional 5% stake from Vodafone Group Plc at KES34 per share.
The Kenyan government retains a 20% stake in Safaricom, which remains listed on the Nairobi Securities Exchange.
The acquisition enables Vodacom to consolidate Safaricom’s financial results into its own accounts, reflecting the telecommunications giant’s growing importance within the group’s African operations. Vodacom reported EBITDA of R63 billion for the 2026 financial year, while Safaricom recorded EBITDA of R29 billion.
Vodacom Group Chief Executive Officer Shameel Joosub described the transaction as a landmark moment for both companies and the region.
“This acquisition strengthens our leadership in East Africa while creating new opportunities to expand digital and financial inclusion across Kenya and Ethiopia. Safaricom’s strong growth trajectory aligns with our Vision 2030 strategy and reinforces our commitment to delivering sustainable value to customers, shareholders and communities,” Joosub said.
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Safaricom, widely regarded as one of Africa’s leading telecommunications and fintech companies, continues to drive financial inclusion through its flagship M-Pesa platform, which contributes approximately 44% of its revenue in Kenya. The company has also expanded its operations into Ethiopia, where it has built a customer base of around 14 million subscribers while growing its cloud, enterprise and Internet of Things (IoT) services.
The transaction marks a significant milestone in Vodacom’s Vision 2030 strategy, aimed at strengthening its footprint across Africa’s high-growth markets. The group now operates across a broad regional network stretching from South Africa through East and Central Africa to Egypt, with Safaricom positioned at the centre of its East African operations.
Kenya’s Cabinet Secretary for the National Treasury, John Mbadi, welcomed the completion of the transaction, saying the government’s original investment in Safaricom had generated substantial economic returns over the past 25 years.
He noted that proceeds from the sale would support investments in critical infrastructure, including roads, energy, water systems and airports, while affirming the government’s confidence in Safaricom’s future growth.
Vodacom said it expects to provide an update on its medium-term financial targets when it releases its first-quarter results on or around July 27, 2026.
