Government to have final say on Safaricom's new regional expansion

The Kenyan government will retain veto power over any expansion of Safaricom beyond Kenya and Ethiopia, according to a special resolution to be voted on at the 2026 annual general meeting. The measure stems from an agreement transferring the Treasury's 15% stake to Vodacom, which now holds 55% of Safaricom through Vodafone Kenya Limited. Safaricom, which launched in Kenya in 2000 and Ethiopia in 2022, is East Africa's most profitable company. The government justifies this control due to Safaricom's strategic importance to Kenya's economy.