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Safaricom to pump Sh25bn into expansion

Safaricom, with shares at an 18 month high, aims to grow yet more in the coming financial year.

The telco told shareholders at its AGM yesterday that it plans to invest another Sh25 billion into expansion in the next financial year. The company has invested over Sh100 billion on networks and improvement over the past four years.

Chairman Nicholas Ng’ang’a said most of the investment in the coming year would be made on improving and expanding the network.

Chief Executive Officer Bob Collymore added that Safaricom intended to focus on innovation and customer experience to maintain its lead in the market.

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