Safaricom PLC is the new owner of M-PESA Holding Co. Limited (hereafter M-PESA Holdings). On 17 April 2023, Safaricom announced a 100% share purchasing agreement with Vodafone International Holdings B.V. to transfer Vodafone’s 100% stake in M-PESA Holdings to Safaricom for $1. This acquisition was completed seven months later, on 19th October 2023.
The deal was a complex one. Vodafone International Holdings B.V. is Safaricom’s parent company (with a 5% stake). Vodacom Group Limited is Vodafone’s Sub-Saharan subsidiary. Vodafone approved Vodacom's sale of M-PESA Holdings to Safaricom for $1. Della Valle, Vodafone’s new CEO as of January 2023, has been on a mission to simplify the company and set it on a growth path. Company investors have pressured the company to let go of underperforming assets, leading it to trim its workforce in the UK, Germany & Italy.
However, M-Pesa Holdings differs from Safaricom’s popular M-PESA mobile money service that