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

November 3, 2017
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.

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