Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
The highlights of Safaricom's half-year performance/COURTESY

Kenya

Safaricom’s profit grows as firm says Collymore’s absence won’t impact performance

Safaricom says the CEO will be away for months to receive specialized medical treatment/FILE

NAIROBI, Kenya, Nov 3 – Safaricom Chairman Nicholas Ng’ang’a says the company will continue to perform strongly despite Chief Executive Bob Collymore being on sick leave for specialised treatment for a number of months.

Ng’ang’a says Collymore’s style of management is very strong as he has empowered managers to adequately work well.

“We would like to respect the confidentiality between both Bob Collymore and his doctors and cannot speculate on his illness,” he said.

Sateesh Kamath took over a primary role from Collymore to.

The firm has posted an increase in its half year net income to Sh26.2 billion compared to Sh23.93 billion previously.

The growth is excluding a one off adjustment and its tax impact.

The highlights of Safaricom’s half-year performance/COURTESY

Apart from the adjustment, the firm’s net income went up by 9.5 percent.

Mobile data was the largest contributor growing by 31 per cent to Sh17.55 billion compared Sh13.4 billion in the previous year.

M-PESA revenue grew by 16.2 percent to Sh30 billion while SMSs hit Sh8.92 billion.

Total revenue hit Sh102.1 billion.

Advertisement. Scroll to continue reading.
Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...