Posts Tagged ‘Safaricom IPO’
Senior Execs Quit Vodacom SA for Kenya’s Safaricom
Vodacom has lost two of its top executives. Willem Swart, the group’s chief officer for international business tendered his resignation after the markets closed on Thursday evening. The group reported first quarter financial results on Thursday that reflected a disappointing performance in Vodacom’s operations outside The JSE-listed [...]
Vodafone’s Bob Collymore, 52, to Replace Michael Joseph as Safaricom CEO
Nairobi, 22 July 2010 | Safaricom CEO Michael Joseph is set to retire on 1st November this year. While announcing the move, Nicholas Nganga, Safaricom Board Chairman, said that Joseph will be replaced by Vodafone’s Bob Collymore, 52, who has worked in the telecommunications industry for more than 30 years in a variety of roles including that of [...]
Safaricom CEO to retire by end of 2010
NAIROBI (Reuters) - The head of Safaricom plans to step down by the end of 2010 after a decade at the helm, during which he turned the telecoms firm into east Africa's biggest company by market capitalisation. "I am planning to retire sometime in 2010, that's my intention," Chief Executive Officer Michael Joseph told Reuters in an [...]
Michael Joseph of Safaricom highlights the promise—and peril—of doing business in Africa
Nairobi, June 2008, THIS is a vexing time for those looking to invest in Africa. There are prophets of doom, who predict that population growth and climate change will condemn Africa's cities and dry countryside to crisis and collapse. But there are also optimists, such as Michael Joseph, the head of Safaricom, a Kenyan mobile-phone operator. [...]
Safaricom sets record for Kenya’s blue chips
by Michael Omondi (Business daily)Safaricom yesterday reported record profits and announced plans to boost coverage in the rural areas as a strategy of growing its customer base in the face of mounting competition.Telkom Kenya and Econet Wireless are expected to launch mobile phone services later in the year , adding competitive pressure in a [...]
Investors Cheated into buying Kenya’s Safaricom shares in IPO
Additional Reporting from The Financial Standard edited by Branded.It is emerging that many local and international investors were cheated into buying shares in the recently concluded East Africa's largest ever Initial Public offering (Safaricom IPO). The company recently issued a revised Safaricom prospectus raising eyebrows as it borders on [...]
SFO rules out further inquiry into Vodafone’s Kenyan partner
From The independentThe Serious Fraud Office (SFO) last night ruled out any further investigation into allegations of corruption involving a Kenyan mobile phone company of which Vodafone holds a 40 per cent stake.The decision came as thousands of Kenyans lined up to buy shares in the public flotation of the company, Safaricom, after opposition [...]
Kenya’s Largest IPO opens amid protests over Rogue Stockbrokers
By JUSTUS ONDARI (The Daily Nation)Rogue stockbrokers, not the electronic trading system, are to blame for the financial crisis facing Nyaga Stockbrokers and other ills afflicting the Kenyan stock market. According to a survey carried out by the Nation, adequate discipline backed by harsh penalties for any transgression would rid the Nairobi Stock [...]
Rush to sell Safaricom raises moral questions
Source: Business DailyWith all indications showing that a large number of small investors are likely to be locked out of the forthcoming Safaricom sale, the spotlight must turn to Finance minister Amos Kimunya over his timing of this offer that is billed as East Africa’s biggest.Mr Kimunya has defied all counsel that his ministry should first [...]
