Vodacom, Vodafone Group's African subsidiary, completed the acquisition of an additional 20% stake in Kenyan telecommunications giant Safaricom. The transaction increases Vodacom's total shareholding in Safaricom to 55%. This gives Vodacom a majority stake in Safaricom, a leading mobile network operator known for its M-Pesa mobile money service.
The move solidifies Vodacom's and Vodafone's strategic position in the key East African market. Vodacom expects the majority stake to enhance operational synergies and strengthen growth prospects in the region.