Vodacom Group Ltd. completed the acquisition of an additional 15% stake in Safaricom Plc, taking majority control of East Africa’s largest telecommunications operator after Kenya’s Court of Appeal removed legal barriers that had delayed the transaction.
The South African telecom company said the purchase increases its ownership in the Nairobi-listed operator to 55%, strengthening its position in one of Africa’s fastest-growing markets for mobile, digital, and financial services.
The transaction was finalized days after the court cleared the sale, paving the way for Kenya’s Treasury to receive Sh204.3 billion from the disposal of its stake. The proceeds are expected to provide a substantial boost to government finances at a time when authorities continue seeking additional revenue sources.
Under the agreement, the Treasury will also receive a Sh40.2 billion dividend top-up through a financing structure backed by the government’s remaining 20% holding in Safaricom.
“This is a landmark moment for Vodacom, for Safaricom, and for the communities we serve across East Africa,” Vodacom Chief Executive Officer Shameel Joosub said, adding that the deal would create opportunities to expand digital and financial inclusion across the region.
The acquisition gives Vodacom greater strategic influence over Safaricom, a telecom and mobile-money giant whose operations have made it one of Kenya’s most valuable listed companies, potentially reshaping competition and investment trends in East Africa’s telecommunications sector.