Safaricom in Kenya: Vodafone Kenya wants to purchase an additional 15% of the government

Vodafone Kenya plans to purchase additional shares in Safaricom, equivalent to a 15% ownership from the government, for approximately $1.6 billion, according to a new tab released by Kenya’s Safaricom (SCOM.NR).

Following the conclusion of the deal, which would leave the government with a 20% ownership, the public with a 25% shareholding, and Vodafone Kenya with a 55% stake, Safaricom said in a statement that it has no plans to launch a takeover offer of Safaricom.

It further stated that in exchange for an upfront payment of 40.2 billion shillings to the government in lieu of future dividends that will accrue to the government’s remaining 20% investment in Safaricom, Vodafone Kenya will also purchase the right to receive future dividends from Safaricom.

The bidder will pay 34 shillings per share, which is more than the closing price of Safaricom’s shares on Wednesday of 28.20.

Kenya’s plan to sell more of its Safaricom shares was initially revealed by Finance Minister John Mbadi in May 2025.

In 2008, it sold a quarter of its shares through an IPO.