A general view of an advertisement for Safaricom's 4G mobile network service, seen at a kiosk in Nairobi on September 14, 2023.
JOHANNESBURG - Vodacom has completed a multi-billion-rand deal to take over Kenya's largest telecommunications company, Safaricom.
The deal increases Vodacom's stake in the Kenyan telecoms company from 35% to 55%.
It bought a 15% stake from the Kenyan government and another 5% from Vodafone.
The Kenyan government will keep a 20% stake in Safaricom.
Vodacom said the deal strengthens its telecoms and financial services business across Africa.
It also gives the group control of the M-Pesa mobile money platform.