Vodacom Gains Majority Control of Safaricom in $2.1 bn Deal

Vodacom Group completed the purchase of an additional 20 % effective stake in Kenya’s Safaricom, increasing its ownership to roughly 55 %. The transaction, valued at about US$2.1 bn (KSh 272 bn), combines the acquisition of the Government of Kenya’s 15 % stake and an effective 5 % interest from Vodafone Group. Kenya’s Court of Appeal lifted a conservatory order on 26 June, enabling the deal to close.

The Kenyan government will receive approximately KSh 204 bn, earmarked for a national infrastructure fund to finance roads, energy, water and airports. With majority control, Safaricom will move from associate accounting to full consolidation under IFRS, materially affecting Vodacom’s reported earnings. Vodacom CEO Shameel Joosub called the transaction a “landmark moment” for the group’s digital and financial inclusion goals in East Africa. Safaricom’s M‑Pesa platform remains a key revenue driver, contributing about 44 % of its Kenyan earnings.