Name: SAFARICOM LIMITED
Item: SAFARICOM LIMITED
Author: Admin

Safaricom Public Limited Company, is a mobile network operator in Kenya. The company was formed in 1997 as a fully owned division of Telkom Kenya with the name Safaricom. Vodafone Group PLC of the United Kingdom acquired a 40% stake and management responsibility from the company in May 2000. Safaricom changed its name in compliance with section 53 of the Companies Act, 2015 to Safaricom PLC instead of Safaricom Limited on 28 February 2018, as of December 2, 2016, Bob Collymore was the CEO; he succeeded Michael Joseph on November 1, 2010, after Joseph’s ten years as Safaricom CEO. Collymore has spent most of his career in the telecommunications industry starting with British Telecommunications, where he held a department of marketing, purchasing and commercial roles over a 15-year period. Recent reports appearing in the cross section of the press indicate that Vodafone Plc of UK only owns 35% and the remaining 5% is owned by a little-known company, Mobitelea Ventures Limited. Mobitelea Ventures Limited were granted an option to purchase 25% of Vodafone’s shares which they completed in 2002, Vodafone bought back half of the stake in 2003 for $10 million, and in the financial year ending 31 March 2009 purchased the remaining indirect equity stake of 5%, thus returning Vodafone to its original 40% stake-holding. Vodafone said that whilst it would like to disclose who owns Mobitelea it is unable to because of a confidentiality agreement.
Safaricom maintains its headquarters in Safaricom House, Waiyaki Way in Westlands, Nairobi. It maintains other offices in the city of Nairobi and in the major urban centers in Kenya, including Mombasa, Eldoret, Nakuru and Kisumu.

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