Bloomberg News

Safaricom of Kenya Rises as Market Share Advances in Quarter

October 06, 2011

Oct. 6 (Bloomberg) -- Safaricom Ltd., East Africa’s biggest mobile-phone company, jumped after data from the industry regulator showed it added customers in the three months through June.

The stock of Kenya’s second-biggest company by market value climbed 1.7 percent to 3.05 shillings by the 3 p.m. close in Nairobi, paring its drop this year to 35 percent.

Safaricom added 148,000 customers during the quarter and remained the market leader with a share of 69 percent compared with 68 percent in the previous three months, the Communications Commission of Kenya said in a statement on its website yesterday. The number of mobile-phone users in the nation grew 0.2 percent to 25.3 million from the previous quarter, it said.

--Editors: Ana Monteiro, Peter Branton

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


Tim Cook's Reboot
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus