Kenya’s High Court ruled on 15 September 2026 that the government’s sale of a 15% stake in Safaricom to Vodacom was unconstitutional and ordered the stake to be returned to the state.
The stake formed part of Vodacom’s acquisition of an additional 20% of Safaricom, completed in July 2026 and reported at US$2.1bn (R35bn), which took Vodacom to 55% majority control of the M-PESA operator. The decision could require Kenya to refund about US$1.9bn already received.
Vodacom said it will appeal the decision and seek to pause the order while the case is heard.
