Vodacom takes control of Kenyan giant in R35 billion deal
Vodacom Group Limited has announced the completion of its acquisition of an additional 20% of Safaricom, giving it control of the Kenyan company.
The deal has gone ahead following the Court of Appeal of Kenya’s 26 June 2026 stay of a conservatory order and the fulfilment of all conditions precedent.
Vodacom said that its 55% stake allows for consolidation into one of Africa’s foremost telecommunications, financial services, and technology businesses.
The transaction was valued at $2.1 billion (R35 billion) and was first announced in December 2025.
It sees Vodacom acquire a 15% stake from the Government of Kenya and an effective further 5% from the Vodafone Group Plc.
The Kenyan Government will retain a 20% stake in Safaricom, which is listed on the Nairobi Securities Exchange.
As per IFRS reporting standards, Safaricom’s financial results will transition from an associate to consolidation for Vodacom.
The Vodacom Group reported EBITDA of R63 billion at FY26, while Safaricom reported EBITDA of R29 billion.
“This is a landmark moment for Vodacom, for Safaricom, and for the communities we serve across East Africa,” said Shameel Joosub, Vodacom Group CEO.
“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.”
He added that the outstanding track record and differentiated growth outlook perfectly complement its Vision 2030 ambitions, which look to scale into digital and financial services.
Safaricom owns the M-Pesa platform, the continent’s leading mobile money and financial services platform.
M-Pesa has grown from Kenya into Ethiopia, adding to its customer base by around 14 million people.
With the acquisition, Vodacom now controls companies across Southern Africa, East Africa and Egypt.
“Twenty-five years ago, the Government of Kenya made a founding investment in a mobile telephone licence,” said John Mbadi, Cabinet Secretary of the National Treasury of Kenya.
“That investment has grown into Safaricom – a company that has transformed financial inclusion across Africa, connected more than fifty million Kenyans.”
Mbadi said that the government is now selling a portion of this value to invest in roads, energy, water and airports to mark Kenya’s next stage of growth.
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