Safaricom, Ltd is a leading mobile network operator in Kenya. It was formed in 1997 as a fully owned subsidiary of Telkom Kenya. In May 2000, Vodafone group Plc of the United Kingdom acquired a 40% stake and management responsibility for the company.
As of January 17, 2011, Robert Collymore is the CEO; he succeeded Michael Joseph on November 1, 2010, after Joseph's ten years as Safaricom CEO. Recent reports appearing in the cross section of the press indicate that Vodafone Plc of UK only owns 35% and the remaining 5% is owned by a little known company, Mobitelea Ventures Limited. The reports have caused a stir which led to the summoning of its CEO Michael Joseph to appear before the PIC "Public Investment Committee", during which he denied knowing who the other shareholder is. It is widely believed that the former regime arm twisted Vodafone to shed off the 5% as a kickback to high-ranking officials in the regime. Safaricom's initial public offering of stock, on the Nairobi Stock Exchange, closed in mid April 2008.
Safaricom employs over 1500 people mainly stationed in Nairobi and other big cities like Mombasa, Kisumu, Nakuru and Eldoret in which it manages retail outlets. Currently, it has nationwide dealerships to ensure customers across the country have access to its products and services.
As of January 2010, Safaricom boasts a subscriber base of approximately 12 million, most of whom are in the major cities - Nairobi, Mombasa, Kisumu and Nakuru.
Its headquarters are located in Safaricom House, Waiyaki Way in Westlands, Nairobi. It has other offices in the city center in I&M building, Kenyatta Avenue, on Kimathi Street and at Shankardass House - next to Kenya Cinema Moi Avenue.
Its main rival is Airtel Kenya. Other rivals include Essar's YU and Orange Wireless.
Safaricom has charitable functions where it helps the less fortunate in the society mostly through the Safaricom Foundation.
In November 2012, Safaricom announced it would be offering a new mobile phone banking product in conjunction with the Commercial Bank of Africa, tapping into an underdeveloped financial services market.
Read more about Safaricom: Flashback Service, Electronic Cash Service, Kipokezi Service, Other Services, Internet Connectivity, See Also