Vodacom Group has completed the acquisition of an additional 20% effective stake in Safaricom, increasing its stake in the East African telecommunications and fintech group to approximately 55%.
The transaction, which is valued at approximately R35bn, comes after Kenya's Court of Appeal lifted a conservatorship order on June 26 and completed the remaining terms of the transaction.
First announced in December 2025, the deal consists of a 15% stake acquired from the Kenyan government and an effective additional 5% stake from Vodafone Group at KES34 per share. The Kenyan government will retain a 20% stake in Safaricom, which is listed on the Nairobi Securities Exchange.
The transaction gives Vodacom majority ownership of Safaricom and means the business will move from accounting as an associate to being consolidated into Vodacom's financial results under IFRS.
Safaricom operates in telecommunications, financial services and digital services, with Kenya remaining its largest market. Its M-Pesa platform remains a major contributor to revenues, with fintech accounting for 44% of revenues in Kenya.
The company has also expanded into Ethiopia, where it has built a customer base of approximately 14 million, while continuing to grow its cloud, enterprise and Internet of Things offerings.
Vodacom Group CEO Shamil Josoub said the transaction strengthens the group's position in East Africa and supports its long-term expansion strategy in digital and financial services.
The acquisition is part of Vodacom's Vision 2030 strategy, which focuses on expanding the group's presence in high-growth African markets and enhancing exposure to services beyond traditional connectivity.
Vodacom currently operates in markets including South Africa, Egypt and several countries in East and Central Africa.
The group said it expects to provide an update on its medium-term targets when it publishes first-quarter results on or around July 27, 2026.
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