Who Really Owns Safaricom? Meet the 10 Biggest Shareholders Behind Kenya’s Telecom Giant

Safaricom is one of Kenya’s most influential companies, with millions of customers relying on its services for communication, mobile money transfers, internet access and other financial services.

The telecommunications giant has grown into a major player in Kenya’s economy, largely through its popular M-Pesa platform, which has changed how millions of people send, receive and save money.

But beyond its familiar green branding and services, many Kenyans may not know who actually owns and controls the company.

Safaricom is a publicly listed company whose shares are held by both government institutions and private investors. This means ownership is shared among several shareholders rather than belonging to one individual.

According to Safaricom’s 2026 annual report, two major shareholders held a combined 74.93% of the company as of March 31, 2026. They were Vodafone Kenya Limited and the Cabinet Secretary to the National Treasury, representing the Kenyan government.

However, Safaricom’s ownership structure changed following a major transaction completed on June 30, 2026. Vodacom Group acquired an additional 20% stake, including 15% from the Kenyan government and 5% from Vodafone.

The transaction increased Vodacom’s ownership to 55%, reduced the government’s stake to 20% and left public investors with 25%.

This would make Vodacom the majority shareholder and give it control of the telecommunications company. However, the transaction has faced a legal challenge. The High Court nullified the sale, and the Court of Appeal subsequently ordered that the existing situation be maintained pending the hearing of the appeal. The final legal position therefore remains subject to the court process.

The 10 largest shareholders listed in Safaricom’s March 2025 financial statements were:

It is important to note that these ten positions are from the March 2025 shareholder register, not the latest post-transaction ownership structure.

Safaricom also has thousands of individual and institutional investors who own shares through the Nairobi Securities Exchange.

The company remains a major part of Kenya’s economy, with its influence extending beyond telecommunications into mobile banking, digital payments and financial services.

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