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Browsing: Safaricom
- Brand Finance ranked giant telecommunications company Safaricom as the most valuable brand
- Equity Group Holdings Limited has become one of the most recognised banks in Kenya under James Mwangi’s leadership
- Tusker Lager emerged as the fastest-growing brand with its value growing by 132 per cent
Brand Finance, a valuation consultancy firm, recently released the list of the most valuable brands in Kenya.
The Brand Finance Kenya 20 2022 ranking listed giant telecommunications company Safaricom as the most valuable brand. The telco has consistently maintained the top spot out of 20 firms surveyed over the years.
Companies in the financial sector services dominated the list.
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Safaricom
Safaricom is the largest telecommunications company in Kenya. The 2021-2022 first quarter sector report released by the Communications Authority of Kenya (CAK) noted that the telco is the market leader with a 64.6% share.
The Kenyan government and Vodacom each control a 35 per cent
- Safaricom has appointed investment banker John Ngumi as their new chairman, effective August 1, 2022
- The company unveiled Ngumi as the new chair who would take over from Michael Joseph, who took up the position in 2020
- Ngumi has had a 35-year banking career, having worked with local and international corporates with an East African regional presence, state-owned enterprises, sovereigns, and financial services grasps
Safaricom, Kenya’s biggest telecommunications company, has appointed investment banker John Ngumi as their new chairman, effective August 1, 2022.
On Friday, July 29, 2022, Safaricom unveiled Ngumi as the new chair who would take over from Michael Joseph, who took up the position in 2020.
Joseph took the job after Safaricom’s long-serving chairman Nicholas Ng’ang’a retired in 2020.
In a statement sent to The Exchange Africa, Safaricom said the incoming Chairman has had a 35-year banking career, having worked with local and international corporates with an …
- Kenya’s leading telcos have signed a landmark deal that will propel the mobile money space in the country
- Telkom, Safaricom, and Airtel announced that Kenyans can now make direct mobile money payments to an M-PESA Pay Bill number from any network
- The companies said the move follows their announcement in April 2022, which saw Kenyans being able to make mobile money payments to M-PESA Buy Goods and Services Tills from any network
Kenya’s leading telcos have signed a landmark deal that will propel the mobile money space in the country.
On Friday, July 15, 2022, Telkom, Safaricom, and Airtel signed a deal to allow Kenyans to make direct mobile money payments to an M-PESA Pay Bill number from any network.
In a statement, the telecommunications companies said the move follows their announcement in April 2022, which saw Kenyans being able to make mobile money payments to M-PESA Buy Goods and …
In the future, Adanian Labs wants to get past the current phase, in which the flow of deals around the world is slowing down, and rise to power more start-ups and take over more markets across the continent.
In just two years, Adanian Labs has expanded out of Kenya and into Tanzania, Zambia, South Africa, and Nigeria, which are some of Africa’s biggest start-up and tech hubs.
It wants to have a presence all over Africa by 2025, and it is working hard to help build 300 companies in the next five years. In the meantime, the lab plans to set up shop in the Democratic Republic of Congo (DRC), Senegal, and the Ivory Coast. It is also thinking about using a franchise model to speed up its growth.
Adanian Labs start-ups can easily expand into other markets because they can use the existing infrastructure of the venture studio as …
- MTN Uganda has appointed Sylvia Mulinge of Safaricom as its CEO, effective September 1, 2022
- Mulinge currently serves as Safaricom’s Chief Consumer Business Officer
- She has been at Safaricom for 16 years, where she served in different capacities, including General Manager Enterprise Business Unit and Director Consumer Business Unit
Telecommunications company MTN Uganda has appointed Sylvia Mulinge of Safaricom as its CEO, effective September 1, 2022.
Mulinge currently serves as Safaricom’s Chief Consumer Business Officer. She has been at Safaricom for 16 years, where she has served in different capacities. These include General Manager Enterprise Business Unit and Director Consumer Business Unit, before assuming the role of Chief Customer Officer in 2018. In July 2021, she took up the role of Chief Consumer Business Officer.
In a statement, South Africa’s MTN Group announced the appointment, saying she brings on board experience in transforming customers’ lives using technology.
“A seasoned executive, …
- The Google product development centre in Nairobi has been launched weeks after Visa set up its first innovation centre in Africa
- Google, Microsoft and Visa join Cisco and Philips in setting up innovation centres strengthening Kenya’s Silicon Savannah moniker
- Visa’s innovation studio is the first in Africa and the sixth globally
The Google product development centre in Nairobi, Kenya has launched just two weeks after Visa set up its first innovation centre for the co-creation of payment and commerce solutions with partners.
Google, Microsoft and Visa join Cisco and Philips in setting up innovation centres strengthening Kenya’s Silicon Savannah moniker and as a tech investment hub in East Africa.
The tech giant’s facility, the first of its kind on the continent, is to create products and services that will have a significant impact on the African continent and beyond.
Besides the research and development centre, Microsoft has also …
- Safaricom has rolled out a campaign to offer technological solutions for enterprise and the public sector
- The company said it is seeking to leverage its connectivity and experience to venture into the technology space by expanding its tech solutions in the areas of digital business
- Safaricom is banking on its recent efforts to enable it to play a bigger role in digitising and transforming businesses in various sectors, including education, health and manufacturing
Safaricom has rolled out a campaign to position tech solutions for enterprise and public sector customers.
The Kenya-based telco said it is seeking to leverage its connectivity and experience to venture into the technology space by expanding its tech solutions.
The expansion is in the areas of digital business through cloud computing, cyber security and the internet of things (IoT) underpinned by IT consulting services.
Besides reinforcing its new business strategy to become a technology company, the …
Airtel Network Kenya, the second biggest telecommunications network, saw shareholder loans from its holding firm, Bharti Airtel Kenya BV, rise by 12.01 per cent from sh46.6 million in 2020 to sh52.2 million in the year ending December 2020.
The causes of the financial losses have been additional lending, forex losses as the shilling depreciate, and postponement in paying interests.
Capitalization interest due to being paid stands at Sh1.34 billion, which has disrupted cash flow in the firm.
Airtel Kenya said that the issued shareholder funds, revenue generated from its operations, and borrowing from external lenders had kept the company afloat.…
- Safaricom has recorded a 12.01% increase in profit after tax to hit KSh37.06 billion
- The growth in profitability was mainly driven by a 16.91% uptick in service revenue
- This was on the back of a recovery in Mpesa revenues coupled with a slower 14.7% growth in total operating costs
Safaricom has recorded a 12.01% increase in profit after tax to hit KSh37.06 billion in the first half of 2021/2022, from KSh 33.06 recorded in a similar period last year.
The accompany has attributed the growth in profitability to a 16.91% uptick in service revenue on the back of a recovery in Mpesa revenues coupled with a slower 14.7% growth in total operating costs.
The firm’s CEO said the pandemic dealt a major blow to the economy in 2020 but they are encouraged with the gradual recovery recorded across major sectors of the economy including the agriculture, manufacturing and tourism sector.…
- The telco sustained 190,273 direct and indirect jobs during the year
- Safaricom registered its first decline in full year profit in nine years, in the year ended March 2021
- The report seeks to illustrate how Safaricom is using a sustainable business model to address society’s needs
Safaricom’s latest sustainable business report indicates that the company created a total value of Sh664 billion for the Kenyan society in the 2020/2021 financial year, which is ten times greater than the profit made during the year.
According to the report’s ‘True Earnings’ highlights, the firm contributed Sh557.1 billion to the economy in the financial year, which is 5.2% of Kenya’s Gross Domestic Product (GDP).
The independent analysis of Safaricom’s true value to society identifies the socio-economic and environmental impacts of the company and quantifies them in financial terms.
“Our Sustainable Business report, which covers our last fiscal year from 1st April 2020 to …