Tuesday
May 7
2019

Hits and Misses at Safaricom Amid Swelling Billions in Profit

By Machauria Kamau and Frankline Sunday

Behind the billions that Safaricom made in the past are tales of some of its products and services that have failed to move the market despite the telecommunication company’s huge selling muscle.

The firm has been struggling to make money from some products even as it basks in wild success of others.

During the announcement of full year results on Friday, Safaricom Chief Executive Bob Collymore told investors the company was reviewing some of its products and services that failed to gain expected traction among consumers.

Chief among them is Masoko, the e-commerce platform launched at the end of 2017 aiming at achieving similar success experienced by US giant Amazon and China’s Ali Baba.

Photo courtesy of Scott Mainwaring.

Source: The Standard Digital (link opens in a new window)

Categories
Finance, Technology
Tags
e-commerce, telecommunications