Safaricom stock: Court fast-tracks appeal. Safaricom stock faces 55 percent ownership uncertainty

Published on 10/22/2026 at 06:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Vodacom keeps a 55 percent stake pending appeal after an October 13 court order. For Safaricom stock, October 23 brings registrar directions.

Control and earnings context

On October 13, 2026, Kenya's Court of Appeal fast-tracked the substantive appeal over Safaricom ownership.
Safaricom reported fiscal year 2026 revenue of KES 427.6 billion, up 10.0 percent.
The appeal returns to the registrar for directions on October 23, 2026.

SCOM, KE1000001402, Illustration mit AI erstellt.

Safaricom (ISIN KE1000001402) remains tied to a 55 percent controlling stake held by Vodacom while Kenya's Court of Appeal fast-tracks the legal challenge to the transaction. Business Daily reported on October 20, 2026, that the existing share position and purchase consideration would remain in place while the appeal proceeds.

Three steps changed control

The chronology is clear: on June 30, 2026, Vodacom completed the acquisition of an effective 20 percent additional interest; on September 15, 2026, Kenya's High Court declared the government's 15 percent sale unconstitutional; and on October 13, 2026, the Court of Appeal ordered the substantive appeal to be fast-tracked while the 55 percent position stayed in place. The transaction details and court order were set out in Sharenet on October 16, 2026.

What does the appeal mean?

The immediate issue is control rather than day-to-day operations. If the High Court judgment stands, Vodacom's interest would fall to about 40 percent, while its separate five percent purchase from Vodafone would remain unaffected, according to TechCentral on October 16, 2026. That creates a measurable gap between the current 55 percent position and the possible 40 percent outcome.

Revenue gives the dispute context

Safaricom's operating scale provides a separate reference point. In fiscal year 2026, total revenue rose 10.0 percent to KES 427.6 billion, while M-Pesa revenue increased 13.4 percent to KES 182.7 billion, according to Rio Times on October 1, 2026. M-Pesa therefore represented 45.6 percent of Kenyan service revenue, making the ownership dispute relevant to a business with a large payments operation.

Next court date

The matter is scheduled to return before the Court of Appeal registrar for directions on October 23, 2026. TechCentral said the substantive appeal itself had been prioritized, while the ownership question remained subject to the court process.

Safaricom's operating base

Safaricom operates mobile connectivity and digital financial services in Kenya and Ethiopia, with M-Pesa as its central payments platform. The court process now supplies the main near-term corporate event, while the fiscal year 2026 revenue comparison shows the scale of the business involved.