Vodacom <a href="https://absafricatv.com/brazil-to-strengthen-role-in-global-agricultural-trade-over-next-decade/” title=”Brazil to strengthen role in global agricultural trade over next decade”>strengthens its position in East Africa with majority stake in Safaricom
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July 01, 2026
VODACOM Group said Tuesday its R35 billion acquisition of an additional 20% stake in Safaricom to gain majority shareholder control has completed and will unlock new opportunities for digital and financial inclusion in Kenya and Ethiopia
– EDWARD WEST
The completion of the deal follows the staying of a conservatory order by the Kenya Court of Appeal on June 26, 2026, and the fulfilment of all condition’s precedent. This means that Vodacom’s shareholding in Safaricom has increased to about 55%, allowing consolidation of one of Africa’s foremost telecommunications, financial services, and technology businesses
“This is a landmark moment for Vodacom, for Safaricom, and for the communities we serve across East Africa. 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,” said Vodacom CEO Shameel Joosub in a statement
The transaction, valued at $2,1bn, was first announced in December 2025 and saw Vodacom acquire a 15% stake from the government of Kenya and a further 5% from Vodafone Group Plc, at KES34 per share
This story is from the July 01, 2026 edition of The Star
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