Vodacom Group Limited VDMCY, South Africa's leading telecom operator, has signaled a potential interest in increasing its stake in Kenya's Safaricom PLC as the Kenyan government explores ways to raise cash. During its Q2 2026 earnings call on November 10, 2025, Vodacom CEO Mohamed Shameel Joosub stated that while no Safaricom breakup is currently under consideration, the company would consider acquiring additional shares if existing stakeholders decide to sell. "We look at any market where our partners want to sell. In that context, if there is a want to sell, I'm sure they'll talk to us," Joosub said.
Safaricom remains a key contributor to Vodacom's bottom line. The Kenyan operator added ZAR 2.1 billion to Vodacom's operating profit, marking a 65.3 increase year-on-year. The strong performance was driven by robust operations in Kenya, particularly from M-Pesa, which recorded 14 growth despite already operating on a large base. Safaricom's EBITDA margins rose to 57.3, reflecting operational efficiency and profitability.
Vodacom itself posted strong overall financial results, with group revenue reaching ZAR 81.6 billion, up 10.9, and net profit attributable to equity holders of ZAR 9.1 billion, a 32.3 increase. The company emphasized the growing role of financial services, which now contribute 25 of its profit before tax, highlighting the strategic value of fintech offerings in markets such as Kenya.
