Shareholders of Safaricom Plc, Kenya’s largest telecommunications company, are set to vote on a proposal that would grant Vodafone Kenya the formal right to nominate the company’s Chief Executive Officer following its acquisition of majority control. According to Reuters and Daily Nation, the proposal will be considered at Safaricom’s Annual General Meeting (AGM) on July 31, after Vodacom Group, Vodafone’s African subsidiary, increased its effective stake in Safaricom to 55% through the completion of a $1.6 billion acquisition of the Kenyan government’s 15% shareholding on June 30.
Under the proposed amendments to Safaricom’s Articles of Association, the Chief Executive Officer would be appointed from a list of candidates nominated by Vodafone Kenya for as long as it maintains ownership of more than 50% of the company’s issued share capital. The governance changes would also remove several provisions introduced when the Kenyan government was a larger shareholder, reflecting the company’s new ownership structure. The Kenyan government now holds a 20% stake, while the remaining shares are publicly traded on the Nairobi Securities Exchange.
Safaricom said the proposed governance revisions are intended to align the company’s corporate framework with its updated shareholding structure following Vodacom’s acquisition. The telecommunications giant remains East Africa’s largest mobile network operator, serving more than 50 million customers in Kenya while expanding operations in Ethiopia, where it has become one of the country’s newest telecom providers. Industry analysts note that clearer governance arrangements could enhance strategic decision-making as Safaricom continues investing in digital financial services, connectivity, and regional expansion.
The shareholder vote represents a significant milestone in Safaricom’s corporate evolution as majority ownership shifts from a government-backed structure to a privately controlled enterprise. Analysts say the outcome could strengthen Vodafone and Vodacom’s influence over the company’s long-term strategy while reinforcing Safaricom’s position as one of Africa’s most valuable and influential telecommunications businesses.
