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# Vodacom seizes control of Safaricom in R35 billion deal
- URL: https://www.businessbagel.com/vodacom-seizes-control-of-safaricom-in-r35-billion-deal/
- Published: 2026-07-01T06:47:12.000Z
- Updated: 2026-07-01T06:47:12.000Z
- Description: The Johannesburg-listed group has lifted its effective Safaricom stake to about 55%, taking majority control of the M-Pesa owner in a deal worth roughly R35 billion.
- Author: Philip Ziegler
- Tags: Companies, Business Bagel News

Vodacom has tightened its grip on East Africa's biggest telecoms operator, completing a $2.1 billion deal — roughly R35 billion — to lift its effective stake in Kenya's Safaricom to about 55%. The transaction, first announced in December 2025, hands the Johannesburg-listed group majority control of one of the continent's most valuable technology and financial-services businesses.

Under the deal, Vodacom acquired an additional 20% effective interest: 15% bought from the Government of Kenya and a further 5% from its parent, Vodafone Group, at KES34 a share. The Kenyan government retains a 20% holding in Safaricom, which remains listed on the Nairobi Securities Exchange.

## Why Safaricom matters

Safaricom is best known for M-Pesa, the mobile-money platform that transformed everyday payments in Kenya and now generates about 44% of the operator's revenue there. The company has also been expanding into Ethiopia, where it has built a customer base of roughly 14 million, alongside a growing suite of cloud, enterprise and internet-of-things services. For Vodacom, consolidating control means it can fold more of Safaricom's fintech and connectivity earnings directly into its own results.

## A milestone for Vision 2030

The completion is a centrepiece of Vodacom's Vision 2030 strategy, which leans heavily on deepening its presence in Africa's fastest-growing markets and scaling digital and financial services beyond traditional voice and data. It caps a drawn-out process: the deal was cleared to close only after Kenya's Court of Appeal stayed a conservatory order on 26 June, removing the last legal hurdle.

The move positions Vodacom as an even bigger player in African fintech at a time when mobile-money adoption continues to climb across the continent. For South African investors, it also deepens the group's exposure to high-growth markets beyond a sluggish domestic economy — a bet that Africa's digital-payments boom still has room to run.

## Sources

- [TechCentral](https://techcentral.co.za/vodacom-takes-the-reins-at-safaricom/283187/?ref=businessbagel.com)
- [Engineering News](https://www.engineeringnews.co.za/article/vodacom-completes-acquisition-of-additional-20-stake-in-safaricom-2026-06-30?ref=businessbagel.com)
- [BusinessTech](https://businesstech.co.za/news/business/865034/vodacom-takes-control-of-kenyan-giant-in-r35-billion-deal/?ref=businessbagel.com)