Vodacom Group Ltd. has completed the acquisition of an additional effective 20% stake in Safaricom PLC, increasing its holding to approximately 55% and securing majority control of Kenya’s largest telecommunications operator.
The deal, valued at about $2.1 billion, saw Vodacom acquire a 15% stake from the Government of Kenya and an effective further 5% from Vodafone International Holdings B.V. via Vodafone Kenya Limited. The transaction closed on June 30, 2026, following the Court of Appeal of Kenya’s decision on June 26 to lift a conservatory order, clearing the final legal hurdle. The government stake was acquired through a block trade on the Nairobi Securities Exchange.
Post-transaction, Safaricom’s shareholding structure is as follows: Vodacom holds approximately 55%, the Government of Kenya retains 20%, and public investors collectively own the remaining 25%. The acquisition allows Vodacom to fully consolidate Safaricom’s financial results.
Vodacom’s advisors on the transaction included Cliffe Dekker Hofmeyr Inc. as lead legal counsel, The Standard Bank Group Bank of South Africa Ltd. as financial advisor, and Investec Bank Ltd. as South African transaction advisor, sponsor and corporate broker. Deloitte provided an independent fairness opinion.
The deal marks a transformative milestone for Vodacom as it says it enables full consolidation of Safaricom’s financial results and significantly strengthens the Group’s presence in East Africa’s high-growth markets. Safaricom, renowned for its market-leading mobile network, the pioneering M-Pesa fintech platform, and its expansion into Ethiopia, perfectly complements Vodacom’s Vision 2030 strategy focused on digital inclusion, technology leadership, and sustainable growth across the continent.
Commenting on the completion, Shameel Joosub, Vodacom Group CEO, said: “This is a landmark moment for Vodacom, for Safaricom, and for the communities we serve across East Africa. Acquiring majority ownership strengthens our position as a market leader while unlocking new opportunities to drive digital and financial inclusion at scale in Kenya and Ethiopia.”
Hon. FCPA John Mbadi, EGH, Cabinet Secretary for the National Treasury of Kenya, added: “Today, we crystallise a portion of that extraordinary value to invest in the roads, the energy systems, the water infrastructure, and the airports that will power Kenya’s next chapter of growth. Safaricom’s best days are not behind it. They are ahead of it. And Kenya remains its home.”
The group plans to provide an update on its medium-term targets together with its trading statement for the quarter ended June 30, expected around July 27.
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