.
Vodacom Group is strengthening its influence over Safaricom, following the appointment of two senior executives from the South African telecommunications group to the Kenyan operator’s board.
Safaricom announced on August 13, 2026, the appointment of Mariam Cassim, Vodacom’s Chief Executive Officer for fintech, and Matimba Mbungela, the group’s Chief Human Resources Officer, as non-executive directors.
The appointments remain subject to regulatory approval. Once cleared, they will increase Vodacom’s representation on Safaricom’s board to five directors, further reflecting the shift in ownership between the two companies.
Vodacom Now Holds 55% Stake
The board changes follow Vodacom’s acquisition of an additional 20% stake in Safaricom, which transformed the South African company into the Kenyan operator’s majority shareholder.
Vodacom now owns 55% of Safaricom, while the Kenyan government’s interest has dropped from 35% to 20%.
Under the revised shareholder structure, Vodacom is entitled to five board seats, compared with two for the Kenyan government.
The latest appointments therefore represent more than routine changes at board level. They demonstrate how the new ownership structure is translating into greater corporate influence for Vodacom.
Two Directors Exit Board
The arrival of Cassim and Mbungela coincides with the departure of two existing Safaricom directors.
James Ludlow, representing Vodafone Group, and John Kipngetich Mosonik have stepped down from the board.
Vodafone Group’s exit is particularly significant because the company previously held a direct interest in Safaricom but no longer does following the restructuring.
The changes effectively align Safaricom’s board composition with the new shareholder arrangement, giving Vodacom greater representation while reducing the Kenyan government’s presence by one seat.
M-Pesa Adds Strategic Importance
Vodacom’s growing influence comes as Safaricom continues to operate far beyond its traditional role as a telecommunications company.
The Kenyan business has built M-Pesa into one of Africa’s most prominent mobile-money platforms, making financial technology a central part of its operations and growth strategy.
With Vodacom’s fintech chief now joining the board, the group is bringing direct expertise in an area that has become increasingly important to Safaricom.
The appointment could strengthen strategic coordination between Vodacom’s broader fintech operations and Safaricom’s digital financial-services business.
HR Expertise Also Enters the Boardroom
Mbungela brings a different area of expertise to the Safaricom board.
He has served as Vodacom Group’s Chief Human Resources Officer since 2014, giving him extensive experience in organisational leadership, talent management and corporate transformation.
His appointment, alongside Cassim, suggests that Vodacom is not simply increasing the number of representatives it has at Safaricom but is also placing executives with expertise relevant to the company’s next stage of development.
Safaricom has evolved into a business spanning telecommunications, mobile money, digital services and infrastructure, making leadership and organisational capabilities increasingly important to its expansion.
How Vodacom Became Safaricom’s Majority Owner
Vodacom’s latest boardroom influence follows a transaction first announced in December 2025, when the group disclosed plans to acquire an additional 20% of Safaricom for approximately $2.1 billion.
The planned purchase involved 15% from the Kenyan government and 5% from Vodafone Group.
The transaction was completed in 2026, increasing Vodacom’s ownership from 35% to 55% and giving it majority control of the company.
The Kenyan government remains a significant shareholder with a 20% stake, but its representation on the board has been reduced under the new structure.
For Vodafone Group, the transaction marked a complete exit from direct ownership of Safaricom and consequently ended its board representation.
Greater Say Over Safaricom’s Future
The new shareholder structure also gives Vodacom greater influence over key leadership decisions at Safaricom, including the selection of the company’s chief executive officer and chairman under the revised shareholder agreement.
That could give Vodacom a considerably stronger role in determining Safaricom’s strategic direction than it had when its ownership stood at 35%.
For Safaricom, the development marks another stage in the evolution of its relationship with Vodacom from strategic shareholder to majority owner with significantly greater influence over the company’s board and leadership.
The immediate board changes may appear administrative, but they underline a broader shift in control: Vodacom’s 55% ownership of Safaricom is now increasingly visible not only in the share register but also in the company’s boardroom and strategic leadership.
