JSE-listed Vodacom Group has completed the acquisition of an additional 20% effective stake in Safaricom, increasing its shareholding to about 55%.

This followed the staying of a conservatory order by the Court of Appeal of Kenya on June 26 and the fulfilment of all remaining conditions precedent, allowing the consolidation of one of Africa's foremost telecommunications, financial services and technology businesses.

The $2.1-billion (R35-billion) transaction, first announced in December 2025, comprised Vodacom’s acquisition of a 15% stake from Kenya’s government and an effective further 5% from Vodafone Group, at KES34 a share.

The Kenya government retains a 20% stake in Safaricom, which is listed on the Nairobi Securities Exchange.

“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 Group CEO Shameel Joosub.

The completion of this transaction is a key milestone in Vodacom's Vision 2030 strategy, which is centred on deepening the group's leadership in Africa's high-growth markets and scaling its diversified digital and financial services portfolio.

“Safaricom’s outstanding track record and differentiated growth outlook perfectly complement our Vision 2030 ambitions, empowering us to deliver sustainable value for all stakeholders and to connect millions more people for a better future,” he continued.

Safaricom’s flagship M-Pesa platform drives high-impact financial inclusion, evidenced by 44% of revenue coming from fintech in Kenya, while its expansion into Ethiopia, where it has established a growing customer base of about 14-million and its suite of cloud, Internet of Things and enterprise services positions it for continued growth.

Vodacom now operates across a contiguous arc of high-growth African markets, from South Africa through East and Central Africa to Egypt, with Safaricom at the strategic heart of its East African presence, Joosub said.

“Twenty-five years ago, the Government of Kenya made a founding investment in a mobile telephone licence. That investment has grown into Safaricom, a company that has transformed financial inclusion across Africa, connected more than 50-million Kenyans, and contributed over 1.5-trillion shillings to the Exchequer,” added Kenya National Treasury Cabinet Secretary John Mbadi.

“Today, we crystallise a portion of that extraordinary value to invest in the roads, the energy systems, the water infrastructure and the airports that will power Kenya’s next chapter of growth. We do so lawfully, transparently, and with the express authority of Parliament. Safaricom’s best days are not behind it. They are ahead of it. And Kenya remains its home.”