, NAIROBI, Kenya, Sep 13 – Communications services provider Safaricom Ltd has announced that it plans to invest Sh25 billion in this financial year for expansion.
Speaking during the firm’s Annual General Meeting on Thursday, Chairman Nicholas Ng’ang’a said 80 percent of the investment will be on the improvement and expansion of its network, while the remaining amount will be spent on a programme to modernise the equipment used at Safaricom.
He said Safaricom was using its income to fund both initiatives, which will be carried out together with business partners such as Huawei and others.
“We have already taken measures to reduce congestion on the network and we are also working on our spectrum optimisation, during this financial year,” he said.
“We also aim at creating a delightful experience for customers by offering services tailored to suit the dynamic market needs in Kenya,” he added.
Ng’ang’a told shareholders that the telecommunication firm will also devote its resources on innovation, with the aim of ensuring that Safaricom maintains its lead in the local telecommunications market.
He added that in the 2012 to 2013 financial year, the provide aims at creating a delightful experience for customers by offering services tailored to suit the dynamic market needs in Kenya.
Speaking during the meeting, Safaricom’s Chief Executive Officer Bob Collymore said Safaricom has committed more than Sh100 billion in investments over the last four years in an effort to continue maintaining the pole position in the telecommunications market.