Safaricom to pump Sh25bn into expansion
BUSINESS
By BiztechAfrica - Sept. 14, 2012, 9:28 a.m.
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.
MORE BUSINESS NEWS
SAP sees major growth opportunities in Africa
International software giant SAP says it sees huge growth opportunities across the African continent. Read MoreZenith Bank, others raise USD1.2bn for Etisalat
Zenith Bank led 12 other banks to pull a USD1.2 billion financing deal for Emerging Markets Telecommunications Services Limited (EMTS). Read MoreSignal Alliance partners SAP on asset management solution
Signal Alliance has partnered SAP to offer Business Planning and Execution solutions supporting business strategy, process design and integration, and implementation to government and industries in Nigeria. Read MoreMTN highest ranked African brand
MTN has topped the list as the highest ranked African brand in the prestigious Millward-Brown Brandz Top 100 Most Valuable Global Brands 2013 survey, released today. Read MoreMultiChoice Zambia executives killed in road accident
Two senior managers at pay TV MultiChoice Zambia have been killed in a road accident in Chibombo on the Great North Road. Read MoreAfDB to help boost AGOA opportunities
The African Development Bank is working towards helping African countries better benefit from the African Growth and Opportunity Act (AGOA) opportunities. Read MoreMozambique’s TVCABO wins Golden Arrow Award
Dual play operator TVCABO has won a Golden Arrow award as "Best Internet Service Provider in Mozambique" in the corporate business sector. Read MoreHigh hopes for US mission
Egypt has high hopes for closer business ties with the US, following an ICT Ministry delegation visit to the US. Read MoreMost powerful and compact Samsung A3 colour and mono copiers announced
Samsung Electronics South Africa has launched its groundbreaking CLX-9201, 9251, and 9301 A3 colour and SCX-8123, CX-8128 A3 mono copiers. Read MoreOrascom Board advises against Baskindale offer
The Board of Directors of Egypt’s Orascom Telecom Holding has recommended that the company’s shareholders do not accept the tender offer by Baskindale Limited to acquire up to 100% of the shares in the company. Read MoreRELATED STORIES
FEATURED STORY
ICT opens doors for Kenyan slum dwellersA Nairobi based group is equipping high school girls from Nairobi's slums with ICT skills to help them participate meaningfully in building the economy.
BEST READ NEWS
IN DEPTH
Dollar-a-month broadband can change AfricaThe Microsoft-led 4Afrika TV white spaces project, taking broadband to rural people for as little as a dollar a month, is now expanding in Kenya and launching in Tanzania.
COMPANY NEWS
Samsung puts the spotlight on enterprise solutionsSamsung Electronics South Africa has announced its support of the upcoming Enterprise Mobility Forum.
Sage Pastel Evolution: the modern ERP tool for the modern Kenyan businessThis week’s Sage East Africa Conference, entitled Innovation Beyond Boundaries, attracted over 100 existing and potential customers to the Sankara Hotel in Nairobi.
Connected services boosts company payroll and HR administration in West AfricaConnected Services enables SMEs to extend their desktop payroll and HR with an online solution that eases the growing burden of HR managers and payroll administrators.