JOHANNESBURG - Vodacom is dialling up its African power play, and this time, it's going big.
The telecoms giant has increased its Safaricom stake, dropping R36-billion to scoop up an extra 20 percent of the Kenyan powerhouse.
That boosts its shareholding to 55 percent, officially giving Vodacom majority bragging rights.
Safaricom is Kenya's dominant telecom operator, serving over 62 million customers and home to M-Pesa, a global fintech leader powering over a hundred million daily transactions.
The deal still needs the green light from regulators across Kenya, Ethiopia and South Africa.
But if all goes to plan, Vodacom will consolidate Safaricom early next year.