The Safaricom Plc Board of Directors on Thursday announced acquiring 100 percent of M-Pesa holdings from Vodafone Group PLC, its parent company.

“Completion of the Transaction was subject to the satisfaction of conditions that are customary for transactions of this nature, including obtaining approval from shareholders and relevant regulators, all of which have been duly satisfied and all regulatory approvals obtained,” Safaricom acting Company Secretary Mesa Wambani announced in a statement.

“This notice is issued pursuant to Paragraph G.06 of the Fifth Schedule of the Capital Markets (Securities) (Public Offers, Listing and Disclosures) Regulations 2002 and constitutes an announcement duly informing the Public of the successful completion of the Transaction.”

The acquisition of M-Pesa Holding, which started in 2014.

M-Pesa Holding is the firm responsible for holding M-Pesa customers funds under the M-Pesa trust.

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