Safaricom PLC’s ownership remains concentrated among two major investors, who held a combined 74.93 per cent of the telecommunications company’s issued shares as of March 31, 2026, according to its latest annual report.
The 2026 Annual Report shows that Vodafone Kenya Limited and the National Treasury and Economic Planning jointly owned 30.02 billion shares out of Safaricom’s 40.07 billion issued ordinary shares.
Vodafone Kenya emerged as the largest shareholder with 16 billion shares, while the government held 14.02 billion shares through the National Treasury.
The two investors accounted for most of Safaricom’s ownership, with the remaining shares held by institutional and individual investors across various investment categories.
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Vodafone, Treasury dominate Safaricom ownership
The telco’s shareholder register shows that the two largest investors controlled nearly three-quarters of the company’s issued shares at the end of March.
The next tier comprised 15 shareholders holding between 100 million and one billion shares each. Their combined investment stood at 3.15 billion shares, representing 7.87 per cent of Safaricom’s issued capital.
A further 144 investors held between 10 million and 100 million shares, accounting for 9.50 per cent of the company.
Government stake falls after Vodafone transaction
Safaricom’s ownership structure changed on June 30, 2026, after Vodafone Kenya Limited acquired an additional 15 per cent stake from the Government of Kenya.
The transaction raised Vodafone Kenya’s holding to 55 per cent, while the government’s direct shareholding declined to 20 per cent.
Public investors retained a 25 per cent stake in the telecommunications firm following the deal. The transaction further strengthened Vodafone Kenya’s position as Safaricom’s controlling shareholder.
Retail investors account for majority of shareholders
The report further shows the firm’s substantial retail investor base, with 533,549 shareholders listed across different investment categories.
The bulk of these investors held relatively small positions in the company. A total of 359,086 shareholders owned between one and 1,000 shares each, representing 0.51 per cent of the telco’s issued shares.
Another 159,444 investors held between 1,001 and 10,000 shares, collectively accounting for 1.14 per cent of the company.
Investors with holdings ranging between 10,001 and 100,000 shares numbered 18,726, representing 1.20 per cent of Safaricom’s total issued capital.
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