Safaricom Plc has announced that Vodafone Kenya Ltd intends to buy a 15 percent stake from the Government of Kenya.
Once completed, Vodacom will acquire a 15% stake from the Government of Kenya for KSh 204 billion and an additional 5% from Vodafone for KSh 68 billion.
According to a notice shared on Thursday, November 4, 2025, Vodafone currently holds the largest stake at 39.9 percent, while the Government of Kenya, through the Cabinet Secretary to the National Treasury, has 35 percent.
The remaining shares are distributed among several institutional investors, including Standard Chartered Kenya Nominees Ltd, Kenya Commercial Bank Nominees Limited, Standard Chartered Nominees (Resd), and Stanbic Nominees Limited.
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| No. | Name of Shareholder | Current Stake | After Transaction |
| 1 | Vodafone Kenya Limited | 39.93% | 55% |
| 2 | Cabinet Secretary to the National Treasury | 35% | 20% |
| 3 | Standard Chartered Kenya Nominees Ltd A/C Ke004667 | 0.95% | 0.95% |
| 4 | Kenya Commercial Bank Nominees Limited A/C 1019D | 0.91% | 0.91% |
| 5 | Kenya Commercial Bank Nominees Limited A/C 9158 | 0.86% | 0.86% |
| 6 | Stanbic Nominees Limited NR7522171 | 0.61% | 0.61% |
| 7 | Stanbic Nominees Ltd A/C NR1030824 | 0.56% | 0.56% |
| 8 | Standard Chartered Nominees Resd A/C KE11401 | 0.50% | 0.50% |
| 9 | Stanbic Nominees Limited R6631578 | 0.47% | 0.47% |
| 10 | Standard Chartered Nominees Resd A/C KE11443 | 0.41% | 0.41% |
| 11 | Others | 19.79% | 19.79% |
According to Safaricom, the deal forms part of a wider internal restructuring that will consolidate Vodafone’s entire shareholding under Vodafone Kenya.
As part of the transaction, Vodacom Group Limited, which currently owns 87.5 percent of Vodafone Kenya, will acquire the remaining 12.5 percent stake from Vodafone International Holdings, giving it 100 percent ownership of Vodafone Kenya and an indirect 55 percent stake in Safaricom.
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Speaking during a media briefing on Thursday, Treasury Cabinet Secretary John Mbadi explained that the divestiture is expected to generate approximately KSh240.5 billion in aggregate proceeds, which will be used as the seed capital in Kenya’s newly established Infrastructure Fund and Sovereign Wealth Fund.
Mbadi, however, assured that the Government of Kenya will remain a strategic shareholder. The CS also maintained that the parties in the deal that Safaricom’s CEO and board chairman will always be a Kenyan Citizen to allay fears of external control in the strategic company.
“This is a partial divestment, and the Government remains a strategic shareholder,” the CS said.
“Our intention is to mobilize resources responsibly, reinforce fiscal sustainability, and create fiscal headroom for long-term national priorities.”
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