Vodacom Group has completed its acquisition of an additional 20% effective stake in Safaricom, increasing its shareholding in the East African telecommunications and fintech group to about 55%.

The transaction, valued at approximately R35bn, follows the lifting of a conservatory order by Kenya’s Court of Appeal on 26 June and the fulfilment of remaining transaction conditions.

First announced in December 2025, the deal includes 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% shareholding in Safaricom, which remains listed on the Nairobi Securities Exchange.

The transaction gives Vodacom majority ownership of Safaricom and means the business will move from being accounted for as an associate to being consolidated into Vodacom’s financial results under IFRS.

Safaricom operates across telecommunications, financial services and digital services, with Kenya remaining its largest market. Its M-Pesa platform remains a major contributor to revenue, with fintech accounting for 44% of revenue in Kenya.

The company has also expanded into Ethiopia, where it has built a customer base of around 14 million, while continuing to grow its cloud, enterprise and internet of things offerings.

Vodacom Group CEO Shameel Joosub said the transaction strengthens the group’s position in East Africa and supports its longer-term expansion strategy across digital and financial services.

The acquisition forms part of Vodacom’s Vision 2030 strategy, which focuses on expanding the group’s presence across higher-growth African markets and increasing exposure to services beyond traditional connectivity.

Vodacom currently operates across 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 27 July 2026.

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