Bloomberg News

Safaricom Gains First Time in Seven Days as Customer Base Grows

January 09, 2012

Jan. 6 (Bloomberg) -- Safaricom Ltd., east Africa’s biggest mobile-phone operator, increased for the first time in seven trading sessions as it added new customers in three months to September.

The stock jumped as much as 3.4 percent to 3.05 shillings before paring its rise to 1.7 percent at 3 shillings, the first day of gains since Dec. 27, as of 11:05 a.m. in Nairobi, the capital.

Safaricom, which is 40 percent owned by Vodafone Plc, led the market with a 67.7 percent market share in Kenya at the end of September, the Communications Commission of Kenya said in a statement on its website today, without providing data for the quarter ending June.

Safaricom added the highest number of new customers at 593,177 followed by Airtel Networks Kenya Ltd., controlled by Delhi-based Bharti Airtel Ltd., with 557,567 new subscriptions in the quarter ending September. Essar Telecom Kenya Ltd., a unit of Essar Group of India, had 46,742 new customers while Telkom Kenya Ltd., a unit of France Telecom SA, added 16,683 new users, the Commission said.

--Editors: Ash Kumar, 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


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