Safaricom 2019 : Transforming Lives
For Safaricom, success is not dictated by finances and statistics. It is determined by a wider purpose of catalysing community development and supporting socioeconomic strides.
Safaricom
Q&A: Safaricom Safaricom is one of the leading integrated communications companies in Africa with over 17 million subscribers, as well as sponsoring concerts, sporting events and not to mention the Safaricom Foundation which is ten years old this year. It is also expanding into financial services to aid financial inclusion and when you're already the biggest mobile network operator in Kenya, there's only one way to grow: outwards. Safaricom CEO Bob Collymore tells us more. Writer Ian Armitage Project manager Donovan Smith Give me a brief introduction to Safaricom? Safaricom started off as a department of Kenya Posts & Telecommunications Corporation, the former monopoly operator, which was a government parastatal. Safaricom Limited was officially launched in October 2000 and was converted into a public company with limited liability. Vodafone plc held 40 percent of the company's share. By virtue of the 60 percent shareholding held by the Government of Kenya (GoK), Safaricom was a state corporation. Until 20 December 2007, the GoK shares were held by Telkom Kenya Limited ("TKL"), which was a state corporation. Following the offer and sale of 25 percent of the issued shares in Safaricom held by the GoK to the public in March 2008, the GoK ceased to have a controlling interest in Safaricom. How is that ownership structure advantageous? Through the partnership with Vodafone we have access to best in class processes, practices and technology. We also benefit from economies of scale enjoyed by Vodafone group of companies. Your position in the market is a strong one – 66 percent…
