Vodacom remains the registered holder of its Safaricom shareholding while Kenya's Court of Appeal hears a challenge to the deal, even as the group reported half-year revenue growth of 25.6% to R102.5 billion after consolidating the Kenyan operator.
The results cover the six months to 30 September and were released on 10 November 2026. Vodacom says it holds 55% of Safaricom, which it has accounted for as a subsidiary since 30 June 2026.
The numbers
- Group revenue rose 25.6% to R102.5 billion. The increase is attributed mainly to the Safaricom acquisition.
- Vodacom reports 250 million customers across Africa, up 11.8%.
- Financial services revenue rose 99% to R15.9 billion, or 19.2% on a pro forma basis. Vodacom reports 108 million financial services customers.
- "Beyond mobile" services made up 27.4% of group service revenue. Vodacom raised its 2030 target for that share from 30% to more than 32%.
The Kenyan court fight
Kenya's High Court declared the acquisition of the government's 15% Safaricom stake null and void, citing inadequate public participation and undisclosed material information, according to reports. Vodacom and the Kenyan government are both appealing, and the appeal has been expedited at the Court of Appeal in Nairobi.
Reports say the Court of Appeal has ordered the parties to maintain the status quo until the appeal is decided. That means Vodacom stays on the share register for now.
Chief executive Shameel Joosub said: "Our confidence in the strategic rationale of the transaction remains unchanged." He has also called the acquisition a "defining milestone" in the group's development.
What we do not yet know
- When the Court of Appeal will hear and decide the case.
- Exactly how the Court of Appeal's order is framed. Reports describe it differently, as a status quo order and as a refusal to suspend the High Court ruling.
- The value of the deal. Reported figures differ, so we have not stated a price.
