Vodacom Group, one of Africa’s leading telecommunications conglomerates, has sealed a major transaction that will significantly expand its ownership in Safaricom, further cementing its commitment to the high-growth East African markets of Kenya and Ethiopia.
Under the agreement, Vodacom will acquire 15% of Safaricom PLC from the Government of Kenya, alongside an additional 5% from Vodafone, at a price of KES34 per share.
The combined acquisition is valued at R36 billion, equivalent to approximately $2.1 billion.
Subject to regulatory and governmental approvals across Kenya, Ethiopia, and South Africa, Vodacom’s stake in Safaricom, listed on the Nairobi Stock Exchange, will rise from 35% to 55%, giving the Group a controlling interest in one of Africa’s most valuable telecom and fintech operators.
A Strategic Move under Vision2030
The transaction marks a key milestone in Vodacom’s Vision2030 strategy, which aims to deepen its leadership in Africa’s fastest-growing digital markets and expand its diversified services portfolio.
Following the deal, Safaricom’s financial results will shift from “associate” status to full consolidation under International Financial Reporting Standards (IFRS), pushing Vodacom Group’s annual revenue closer to R220 billion, or approximately $12.8 billion.
Shameel Joosub, Vodacom Group CEO, described the acquisition as transformative, noting:
“This landmark transaction accelerates growth and deepens our impact across Africa. Acquiring a controlling stake in Safaricom strengthens our position as a market leader and opens new opportunities to drive digital and financial inclusion in Kenya and Ethiopia.”
He added that Safaricom’s strong performance, innovative culture, and growth outlook align perfectly with Vodacom’s long-term ambitions.
Safaricom Welcomes Increased Investment
Peter Ndegwa, Safaricom CEO, welcomed the development, emphasizing the strength and potential of the partnership.
“Vodacom has been a trusted partner from the beginning. Their renewed commitment is a testament to our strategy, our people, and the opportunities ahead. We look forward to deepening collaboration as we scale innovation and deliver transformative services to our customers.”
Safaricom remains one of Africa’s top-performing digital companies, combining telecoms, fintech, and enterprise technology. Its flagship mobile money platform, M-Pesa, continues to drive strong fintech revenues, with expansion opportunities in Ethiopia and growing cloud, IoT, and enterprise adoption positioning the company for sustained growth.
Kenya Government Praises Transaction
Speaking on behalf of the Kenyan Government, John Mbadi, Cabinet Secretary for National Treasury and Economic Planning, noted the national significance of the deal:
“This transaction aligns with the President’s agenda of unlocking capital without raising taxes or increasing public debt, enabling investments in critical infrastructure. Safaricom remains a strategic asset, and we will retain a 20% stake as well as board representation.”
A Boost to Vodacom’s Africa Ambitions
The acquisition reflects Vodacom Group’s vision of scaling its African footprint, strengthening customer momentum, and driving sustainable value creation.
With the enhanced Safaricom stake, Vodacom seeks to advance its mission of connecting people to a better digital future across the continent.
