Safaricom 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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