Safaricom Enters a New Era

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Safaricom Enters a New Era as Vodacom Tightens Grip

By Harry Njuguna

Late last week, Safaricom shareholders approved 14 special resolutions at the 2026 AGM, with the biggest change giving Vodafone Kenya the right to supply the list from which the telco’s CEO will be appointed while it holds more than 50% shareholding. Another significant change means that Vodafone Kenya now gets one director appointment right for every complete 10% stake it holds, implying five board seats at its current holding. The National Treasury gets the same formula, giving it two appointment rights from its retained 20% stake. With the ink barely dry on a deal that gave Vodacom an additional 15% stake from the Government of Kenya through Vodafone Kenya Limited, alongside an internal restructuring, the shifts in corporate governance structures are just the first sign of how the telco’s majority shareholder intends to reshape the region’s most valuable company in the boardroom and C-Suite.

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CBK Reopens Coveted Infrastructure Bonds in Record KSh 150Bn Offer

By Harry Njuguna

The Central Bank of Kenya (CBK) has just launched its biggest infrastructure bond sale on record, seeking KSh150 billion through three tax-free bonds as the Treasury leans more heavily on long-term domestic borrowing to finance infrastructure projects. The offer is larger than the government's first two bond auctions of the financial year combined and underscores how aggressively the country is tapping local investors to plug its financing gap. For investors, the tax exemption and double-digit coupons are likely to make the securities among the most closely watched fixed-income offerings of the year. But beneath the attractive returns lies a broader story about how Kenya is reshaping its debt profile, stretching repayments further into the future while managing mounting funding needs.

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What You Should Watch! 

4G Capital has officially crossed $1 billion in loans disbursed to micro and small businesses across Kenya and Uganda, a milestone reached through more than 7.6 million loans since the company launched in 2013.

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