Vodacom acquires majority stake in Safaricom

Vodacom has completed the acquisition of an additional 20% effective stake in Safaricom, increasing its shareholding to about 55% and gaining majority control for the first time since Safaricom listed in 2008. The $2.1 billion transaction, first announced in December 2025, involved buying a 15% stake from the Kenyan government and an effective further 5% from Vodafone Idea at KES34 per share. The deal closed after Kenya's Court of Appeal stayed a conservatory order that had frozen the transaction since March. The Kenyan government retains a 20% stake in Safaricom. Vodacom will now consolidate Safaricom's results under IFRS. Separately, Safaricom shareholders are due to vote on a proposal to give Vodafone — Vodafone Kenya the right to nominate the CEO while it holds more than 50% of shares. The acquisition is part of Vodacom's Vision 2030 strategy to expand in high-growth African markets.