Vodacom Group to lift Safaricom stake to 55% for USD 2 bln

Vodacom Group plans to raise its stake in Safaricom to 55 percent in a deal valued at about USD 2 billion, deepening its exposure to Kenya and Ethiopia. The company says the move underlines its long-term commitment to East Africa, where Safaricom is a dominant mobile operator and runs the M-Pesa mobile money platform.

The transaction will increase Vodacom’s influence over Safaricom’s strategy and operations in the region, but the basic structure of the business and its local listing in Kenya remain in place. Further details on the deal’s timetable and regulatory approvals were not disclosed.