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Kenya sold 15% of Safaricom to Vodacom for $2.2 billion, boosting Vodacom’s stake to 55% and funding infrastructure without debt.
Kenya sold a 15% stake in Safaricom to Vodacom for Sh244.5 billion, increasing Vodacom’s ownership to 55% and giving it control of the telecom giant.
The government reduced its stake from 35% to 20%, retaining board representation, while proceeds will fund infrastructure projects without raising taxes or debt.
Vodacom paid a 23.6% premium and an additional Sh40.2 billion for future dividend rights.
The deal, pending regulatory approvals, reflects Kenya’s strategy to divest state assets amid fiscal pressures.
Safaricom, home to the M-Pesa mobile money platform, remains a key national asset with strong growth in fintech and expansion into Ethiopia.
Kenia vendió el 15% de Safaricom a Vodacom por $2.2 mil millones, elevando la participación de Vodacom al 55% y financiando la infraestructura sin deuda.