Vodacom secures 55% Safaricom stake for $2.1bn, boosting Africa telecom-fintech

Vodacom has completed its $2.1 billion purchase of an additional 20% stake in Safaricom, raising its ownership from 35% to 55% and giving the South African telecom majority control of East Africa's largest mobile network. The deal combines a 15% stake bought from the Kenyan government and a 5% stake from Vodafone International. Announced in December 2025, the acquisition faced regulatory reviews in Kenya, Tanzania, Uganda and COMESA, and was temporarily blocked by Kenya's High Court before the Court of Appeal lifted the order on June 26, allowing the transaction to close on Tuesday. Safaricom reported KES 388.7 billion ($3 billion) in revenue and KES 69.8 billion ($540 million) in net profit for the year ended March 2025, driven by its M-Pesa mobile money platform. For Vodacom, the larger stake means a bigger share of Safaricom's earnings and greater influence over one of Africa's most profitable telecom-fintech ecosystems, validating a $2.1 billion bet made despite months of legal uncertainty. For Nigerians, the deal highlights the growing convergence of telecoms and financial services across the continent - a trend mirrored by local players such as MTN and Airtel as they expand mobile money and digital services. It signals where future investment and competition in Africa's digital economy are headed.

SOURCE: https://techcabal.com/2026/07/01/techcabal-daily-safaricom-ports-to-south-africa/