Wednesday
May 24
2017

Safaricom sees lingering break-up threat

Safaricom is still facing the threat of being broken up as the Kenyan regulator weighs up a report on dominance in the country’s telecommunications industry, CEO Bob Collymore said.

East Africa’s biggest company by market value may resort to court action to prevent it from being split, Collymore, 59, said in an interview Wednesday in the capital, Nairobi.

The issue is serving as a distraction for the company’s management and sending “really worrying messages” to investors, he said.

“That noise is still there,” Collymore said. “We keep operating within the law. When necessary we will use the law to challenge judgments or pronouncements which we don’t think are either legal or constitutional.”

Source: TechCentral (link opens in a new window)

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digital payments, financial inclusion, financial innovation, fintech, Kenya, M-Pesa, mobile finance, mobile money, regulations, Safaricom