Friday, 31 July 2015

Splitting Safaricom is wrong, we are competing globally: Collymore

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Safaricom CEO Bob Collymore during the release of the company's full year financial results on May 7, 2015. PHOTO | SALATON NJAUSafaricom CEO Bob Collymore. PHOTO | SALATON NJAU   NATION MEDIA GROUP

Safaricom chief executive Bob Collymore has told the Senate that breaking up Safaricom is not right, saying that the firm is competing globally and is just worth a paltry Sh700 billion
Mr Collymore was responding to Senator Mutahi Kagwe’s plea to have him separate money-transfer service M-Pesa from Safaricom before the government legislation on dominance takes over the process.
Mr Collymore told the committee in the Thursday mid-morning meeting that “Americans will come here, offer you voice through WhatsApp and as a country you will not make money from it.”
The controversial dominance rule that Airtel has been pushing for has gained traction after the Communications Authority of Kenya took the dominance Bill to Parliament.
Safaricom is East Africa’s most profitable company, but is very small by global standards, a fact that makes Mr Collymore say he is competing with global players.

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