The COMESA Competition and Consumer Commission (CCCC) has approved Vodacom’s acquisition of a 15% stake in Safaricom, affirming that the transaction does not threaten competition in Kenya or the broader regional market.
In its assessment released on March 3, 2026, the regulator indicated that markets in Kenya and across COMESA remain competitive, with no single player dominating as a result of this deal.
Safaricom currently commands 60-70% of Kenya’s mobile subscription market, while Airtel holds 30-40% and Telkom Kenya occupies 0-10%. In the broadband sector, Safaricom controls 30-40%, followed by Jamii Telecommunications at 20-30%, Poa Internet at 10-20%, and Wananchi Group at 10-20%.
The CCCC panel determined that the transaction does not lead to increased market share concentration and that competition remains robust across member states. Consequently, the merger is unlikely to significantly impede competition in the Common Market or contradict public interest.
On January 16, 2026, the Commission received merger notification from Vodafone Kenya Limited and Safaricom PLC, as per Regulation 42(1) of the COMESA Competition and Consumer Protection Regulations. In 2025, the government announced plans to sell its 15% stake in Safaricom to Vodacom Group, pending regulatory and parliamentary approvals. The deal involves offloading approximately six billion shares at Ksh34 each, potentially raising Ksh204.3 billion. Should the deal proceed, Vodacom’s stake in Safaricom would rise from 40% to 55%.
Treasury Cabinet Secretary John Mbadi clarified on December 10, 2025, why the government has not listed its 15% stake on the Nairobi Securities Exchange (NSE) for public purchase. He emphasized that while Kenyans could buy shares if listed, Vodacom’s established relationship with Safaricom and expertise in telecommunications make it a more suitable buyer.
Mbadi pointed out that the NSE’s share price is significantly lower than the price negotiated with Vodacom, making a public offering financially imprudent. He explained that flooding the market with shares would likely decrease prices and reduce returns, stating, “If we had taken it to the market, we would have sold at a discount.”
