Data, m-money Safaricom's next focus
Kenyan operator Safaricom, reporting a 13% drop in profits, says it will control costs and focus on new areas, including data, mobile money and other value added services.
Safaricom reported a growth in revenues and Sh18.36 billion in profit for the year to March 2011, but saw a drop in the profitability of voice services, amid growing competition in Kenya.
However, its mobile data and mobile money services saw good growth. The M-PESA service user base has grown to over 13.8 million and M-PESA ARPU has increased by 2.7 %.
Safaricom CEO Bob Collymore said the operator faced increasing competition and sharply rising costs. He said the company will tighten control over its costs and seek more innovative ways of running the business. It will also focus on rural expansion, data services and value-add services.