Vodacom acquires 55% of Safaricom in $2.1 billion deal

Vodacom Group has completed its acquisition of a majority stake in Kenya's Safaricom, finalizing a $2.1 billion deal that shifts control of East Africa's largest telecom operator to the South African company. The transaction, which closed on June 30, increases Vodacom's shareholding from 35% to 55%, consolidating its control over a business that includes the dominant M-Pesa mobile money platform.

The completion followed a decision by the Kenya Court of Appeal on June 26 to stay a lower court order that had frozen the sale since March. The court's ruling allowed the transaction to proceed while underlying constitutional challenges brought by petitioners remain pending before the High Court. Opposition figures have warned that the deal was concluded at risk while the legal case is unresolved.

First announced in December 2025, the deal involved Vodacom purchasing a 15% stake from the Kenyan government and an additional 5% from Vodafone Group. The Kenyan government retains a 20% stake, and Safaricom will remain listed on the Nairobi Securities Exchange. The government is expected to receive approximately 204.3 billion Kenyan shillings from the sale, with proceeds earmarked for a...