Vodacom spends $2.1bn to take control of Safaricom

Vodacom will take majority control of Kenya’s Safaricom in a $2.1 billion share purchase from the Kenyan government and its own parent, Vodafone. The South African operator is buying 15% of Safaricom from the state and 5% from Vodafone, lifting its total holding to 55%, subject to regulatory approval.

The move is tied to Vodacom’s Vision2030 plan, which targets 260 million customers and a bigger push into digital and financial services by the end of the decade. Safaricom is Kenya’s largest mobile operator with about 50 million customers and also leads a consortium running Ethiopia’s second national operator, now serving around 10 million users. Vodacom Group CEO Shameel Joosub called the deal a key step in expanding the group’s presence and financial services reach in Kenya and Ethiopia.