Safaricom Safe From Being Declared Market Dominant in Kenya, Regulator Says
Wednesday, May 6, 2015
Kenya’s competition regulator said it won’t impose penalties on mobile-phone company Safaricom Ltd. to limit its market dominance as there’s no evidence to suggest the company has abused its position.
“Being dominant in a market is considered a red flag but it’s not an illegality,” Competition Authority of Kenya Director General Francis Kariuki said in an interview on Tuesday in the capital, Nairobi.
“As far as Safaricom is concerned there is nothing on my desk to suggest it has abused its position.” The company is internationally known for its M-Pesa mobile money service.
Safaricom, 40% owned by UK carrier Vodafone Group Plc, had 67% of mobile-phone subscriptions in East Africa’s biggest economy at the end of last year and 84% of call minutes, according to a report by the Communications Authority of Kenya.