Vodafone's African subsidiary snaps up stake in Kenyan telco

Telecommunications giant Vodafone said on Thursday that its African subsidiary, Vodacom, has agreed to acquire an effective 20% stake in Safaricom, Kenya's leading telecoms operator.

Vodacom will acquire 15% from the Government of Kenya for €1.36bn in cash, and 5% from Vodafone for €450m in cash.

Upon completion, Vodacom will hold a 55% stake in Safaricom, while the Government of Keny will hold 20%, with public investors making up the final 25%.

Vodafone said the acquisition provided both it and Vodacom with an opportunity to gain controlling ownership of "one of Africa's most successful telecoms and financial services businesses".

Completion of the acquisition was subject to a number of conditions, including regulatory approvals in Kenya, South Africa and Ethiopia, and was expected to close in the first quarter of the 2026 calendar year.

Reporting by Iain Gilbert at Sharecast.com