Vodafone Kenya plans to buy 15% of Safaricom from the government for over KSh 200 billion. The move will raise Vodafone’s ownership from 40% to 55%, giving it majority control.
Vodafone Kenya has announced a major plan to acquire an additional 15% stake in Safaricom in a deal valued at more than KSh 200 billion (£1.2 billion). The purchase will involve 600,814,200 ordinary shares currently held by the National Treasury.
If approved, the transaction will raise Vodafone’s shareholding from 40% to 55%, giving the company majority control over Kenya’s largest telecommunications provider.
The deal will significantly reduce the government’s stake in Safaricom. The Treasury, which currently holds 35%, will drop to 20% once the transfer is completed.
Officials see the sale as an important source of capital at a time when the government is facing pressure from debt repayments and ongoing infrastructure development.
“The transaction will support our fiscal needs while ensuring that Safaricom remains stable and competitive,” a Treasury source said.
Safaricom serves more than 65% of Kenya’s mobile subscribers and is widely viewed as a key driver of the digital economy. Its M-Pesa platform remains one of the most influential financial innovations in Africa.
With this acquisition, Vodafone aims to strengthen Safaricom’s position in mobile services, digital finance, and regional expansion.
The deal will be financed through new term loan facilities arranged by Vodafone Kenya. Before closing, the transaction requires regulatory clearance, including confirmation from the Capital Markets Authority.
Vodafone has already requested an exemption from making a mandatory offer to minority shareholders, a step usually required in such large acquisitions.
If approved, the deal will mark one of the biggest corporate transactions in Kenya’s history and reshape the ownership structure of the country’s most valuable company.
