This archive report was first published on 10 January 2020.
Published on January 10, 2020, Safaricom's share price has been on a remarkable journey, reaching an all-time high of KSh33.30. This represents a staggering 550% gain in value since the company listed on the Nairobi Securities Exchange in June 2008.
The mobile services provider, Kenya's most profitable company and leading telecommunications firm, has seen its share value increase by 49% in the last twelve months, from KSh22.30 on January 9, 2019, to yesterday's high price.
Safaricom's success can be attributed to its innovative solutions and solid governance structure. The company offers a wide range of services, including digital payments, data services, voice and SMS, eCommerce, and mobile banking.
Speaking to KTN News Channel, interim CEO Michael Joseph emphasized the importance of leveraging opportunities in the online retail business. He announced plans to invest in financial, health, education, and agribusiness services in 2020 to maintain the company's lead in the telecommunications sector.
The company's growth is evident in its expanding income streams. Safaricom has partnered with the Postal Corporation of Kenya to provide digital postal services and is searching for a location tracking and intelligence services provider to partner with.
Additionally, Safaricom is developing an innovative fund management tool, dubbed 'Mali', in partnership with a top fund manager in Kenya. This platform is expected to disrupt the asset management industry and bring in significant revenue for the company.
