Vodafone Kenya seeks shareholder vote for Safaricom CEO nomination
Safaricom, Kenya’s largest telecom, will ask shareholders at its July 31 annual general meeting to approve a governance overhaul that would give majority shareholder Vodafone Kenya the power to nominate the chief executive and all executive and shareholder‑appointed directors as long as it holds over 50% of the company’s shares. Vodafone Kenya, now wholly owned by South Africa’s Vodacom Group, raised its stake to 55% after buying a 15% government stake on June 30, leaving the Kenyan government with 20% and public investors with 25%. The proposal also replaces the existing 10% and 40% ownership thresholds in Safaricom’s articles with a single 50% threshold, removes the need for government approval to expand beyond Kenya and Ethiopia, drops the requirement for an executive committee that is predominantly Kenyan, and eliminates the formal dividend policy, leaving dividend recommendations to the board. Shareholders will also vote on a final dividend of KSh1.15 ($0.01) per share, which would bring the total dividend for the year ended March 31, 2026 to KSh2.00 ($0.02) per share, payable on or about August 4 to shareholders on the register as of July 24. For Nigerians with interests in African telecoms or regional investments, this shift consolidates Vodacom’s control over Safaricom and could influence cross‑border telecom strategy, dividend expectations, and regulatory approaches in East Africa.