The COMESA Competition and Consumer Commission (CCCC) has cleared Vodacom Group to acquire an additional 15% stake in Safaricom PLC.
The regional competition watchdog noted that the proposed transaction will not alter the structure of the relevant markets. The CCCC determined that a detailed assessment of market concentration was not necessary, as the post-merger market structure will remain unchanged and no adverse competitive effects are expected to arise from the acquisition.
Vodacom’s proposal
In December 2025, Vodacom Group Limited, a South Africa-based company which currently holds a 40% stake in Safaricom PLC, proposed to acquire an additional 15% stake, equivalent to 6,009,814,200 ordinary shares, through its subsidiary Vodafone Kenya Limited.
Vodacom plans to acquire the stake from the Government of Kenya at a consideration of approximately USD 1.6 billion or KES 204.3 billion at a price of KES 34.00 per ordinary share. Proceeds from the transaction are expected to be directed toward critical infrastructure development in the country.
If the transaction sails through, Vodacom will lift its shareholding in Safaricom PLC to 55%, becoming the majority shareholder, while the Government of Kenya will reduce its stake to 20% from its current 35%.
Vodafone Kenya does not intend to make a mandatory take-over offer for Safaricom as required under the Capital Markets Authority (CMA) regulations. In this regard, the firm will seek exemption from the CMA pursuant to regulation 3(2)a of the Capital Markets (Take-overs & Mergers) Regulations, 2002. If approved, Safaricom PLC will remain listed on the Nairobi Securities Exchange (NSE).
The approval of the transaction by the CCCC marks a major step in the transaction, which is expected to be completed by March 2026, subject to clearance from other relevant authorities.
Also Read: Uchumi Supermarket Shares Trade at KES 2.71 Amid Rising Speculative Interest
