Safaricom acquires full ownership of M-Pesa Holding

Safaricom has announced the acquisition of 100 per cent of M-Pesa Holding Company Limited from Vodafone Holdings B.V.

M-Pesa Holding is the corporate trustee responsible for holding the mobile banking platform’s customer funds under the M-Pesa trust arrangement.

The telco said in a public announcement on Thursday that the process of acquiring full ownership of M-Pesa Holding began in April.

Safaricom’s board of directors said it had met all required conditions for the transaction, including obtaining approval from shareholders and relevant regulators.

“The Board of Directors of Safaricom PLC is pleased to notify the public of the completion of the acquisition by Safaricom of the entire issued share capital of M-PESA Holding Co. Limited from Vodafone International Holdings BV,” it said.

The board noted that M-PESA Holding will continue to act as the corporate trustee of the M-PESA trust funds upon completion of the transaction.