Kenyan court blocks Vodacom's Safaricom stake purchase
The High Court ordered the 15% stake to be returned to the Kenyan government.
Kenya's High Court has ordered Vodacom to return a 15% stake in Safaricom to the Kenyan government, reversing a transaction that had given the South African operator a significant foothold in East Africa's largest telecoms market. The ruling introduces fresh regulatory and ownership uncertainty for Safaricom, whose M-Pesa mobile money platform is central to Kenya's digital payments infrastructure. It may also prompt foreign investors to reassess the legal risks attached to large-scale telecoms acquisitions in Kenya.
Filed Under
What did you make of this
Sign in to react and save stories. Reading is always free.
Be the first to comment
Sign in to join the conversation. Reading is always free.
Related Reports & Analysis
African Telcos Hand Vendors Their Business Blueprint
African telecom operators are entering a new phase in which the most important part of their business may no longer read more How African telcos are handing vendors the blueprint to their business
Kenya's crackdown on foreign traders sparks fear: 'Like a dog set loose'
The authorities have struggled to contain the fallout, as frightened migrants flee the country.
Netflix, WhatsApp Face Closer Scrutiny From SA Regulator
‘Look at this inquiry as Icasa trying to level the playing field, just to make sure that anyone who provides services, at least they work within defined rules of the game,’ says Icasa chair Mothibi Ramusi.
Bidco chair Vimal Shah loses Sh102.4m in forex deal
Shah said Bidco was seeking US dollars to pay for imports of raw materials when his friend and business associate, Nicholas (Nik) Nesbitt, offered to help the company access the currency.