Vodacom to acquire a 20% stake in Safaricom from Government of Kenya and Vodafone in a $2.1bn deal.

Vodacom, a pan-African telecommunications group, agreed to acquire a 20% stake in Safaricom, a mobile network operator, from Government of Kenya and Vodafone, a technology communications company, in a $2.1bn deal. “This landmark transaction will mark a pivotal step in Vodacom’s journey to accelerate growth and deepens our impact across Africa. Acquiring a controlling stake in Safaricom strengthens our position as a market leader, while at the same time unlocks new opportunities to drive digital and financial inclusion at scale in Kenya and Ethiopia. Safaricom’s outstanding track record and differentiated growth outlook perfectly complement our Vision 2030 ambitions, empowering us to deliver sustainable value for all stakeholders and to connect millions more people for a better future. I look forward to working even closer with the Safaricom team and taking some of the learnings from their success and leveraging it across the Group,” Shameel Joosub, Vodacom Group CEO.