South Africa's Vodacom Group is to acquire 15 of Kenya's Safaricom from the Kenyan government and an additional 5 from parent company Vodafone in a deal that takes its overall stake to 55.
At KES34 per share 0.26, the deal is valued at 2.1bn, subject to regulatory approval in Kenya, Ethiopia and South Africa. Safaricom will remain listed on the Nairobi Stock Exchange, while the Kenyan government retains a 20 stake and its board representation.
Safaricom operates telecommunications, fintech and technology services, and owns the widely used M-Pesa mobile money platform.
