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Safaricom HY 2018/2019
FUNKY
#201 Posted : Thursday, May 02, 2019 8:39:21 AM
Rank: Veteran


Joined: 4/30/2010
Posts: 1,542
If a Kenyan cannot run mumias sugar, Kenya airways, etc how do you expect a Kenyan to run a giant like safaricom?? Slow and painful death of safaricom is about to start. Sell your holdings now!
freiks
#202 Posted : Thursday, May 02, 2019 9:20:54 AM
Rank: Veteran


Joined: 6/8/2010
Posts: 1,700
FUNKY wrote:
If a Kenyan cannot run mumias sugar, Kenya airways, etc how do you expect a Kenyan to run a giant like safaricom?? Slow and painful death of safaricom is about to start. Sell your holdings now!


Kwani its a foreignor who runs Centum, Equity or KCB?
Life is an endless adventure
Fyatu
#203 Posted : Thursday, May 02, 2019 10:39:52 AM
Rank: Veteran


Joined: 1/20/2011
Posts: 1,632
Location: Nakuru
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Safaricom CEO Collymore announces retirement

The head of Kenya’s biggest telecoms firm Safaricom plans to step down in August for health reasons, but the government’s insistence he should be succeeded by a Kenyan has delayed announcing a replacement, two company sources said.

Bob Collymore helped build Safaricom into East Africa’s most profitable company, thanks to the popular mobile money transfer service M-Pesa and a growing customer base.

However, he took a nine-month medical leave in late 2017 to return to his native England to battle cancer, and has now indicated he wants to step down, the sources told Reuters.

“He wants to concentrate on his health so he did not wish to renew his contract,” said one of them, speaking on condition of anonymity as there has been no official announcement.

Collymore told Reuters on Monday he was still in discussions with the board, adding it would make announcements on the chief executive position at a later date.

“I have every confidence that whether I’m here or not, that this company will run … This is an institution. It is not a company which is just run by a single person,” he said.

During his tenure, Safaricom’s share price has increased by more than 400 percent to 28.00 shillings ($0.28). He has also led the charge against regulatory efforts to clip the company’s wings due to its dominant size.

Safaricom, which is 35 percent owned by South Africa’s Vodacom, controls about 62 percent of Kenya’s mobile market, with 30 million subscribers. Britain’s Vodafone has a 5 percent stake and the Kenyan government 35 percent.

Private investors also own shares via the Nairobi bourse.

Safaricom, which has not commented on Collymore’s departure, will report its financial results for the year to the end of March on May 3.

The board interviewed candidates, including a senior Kenyan banking executive, before settling on an unidentified foreign national from within the Vodafone group to succeed Collymore, one of the sources said.

But the government objected, citing an agreement supporting the appointment of a Kenyan as CEO, adopted at a shareholder meeting in 2017.

“The state has said ‘no’. They might have to negotiate,” said the source with knowledge of the succession process.

Joe Mucheru, the minister for information communication and technology, said there had been no formal communication from the company on Collymore’s successor.

However, he said he would be surprised if the board could not find a Kenyan to run the company, adding that part of Collymore’s remit was to groom a local successor.

“I would be very surprised if they can’t find a Kenyan. It will be hard for them to justify, what is so special about telecoms?” Mucheru told Reuters.

https://africa.cgtn.com/...e-announces-retirement/

What happens if the CEO feels s/he is beholden to Mucheru or Rotich and not the shareholders?


There is no value a Kenyan CEO will add.
The likes of Mucheru want to put someone they can manipulate and eat from Safaricom.
No shareholder interest here.Looting,looting and filling company with kinsmen who don't have the necessary qualifications


shareholders be damned if the overly corrupt and grossly inept government starts meddling in the affairs of safaricom. Already their data services are mafi ya chicken compared to Airtel
Dumb money becomes dumb only when it listens to smart money
cyruskulei
#204 Posted : Thursday, May 02, 2019 10:45:49 AM
Rank: Member


Joined: 3/9/2010
Posts: 203
Location: kenya
Fyatu wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Safaricom CEO Collymore announces retirement

The head of Kenya’s biggest telecoms firm Safaricom plans to step down in August for health reasons, but the government’s insistence he should be succeeded by a Kenyan has delayed announcing a replacement, two company sources said.

Bob Collymore helped build Safaricom into East Africa’s most profitable company, thanks to the popular mobile money transfer service M-Pesa and a growing customer base.

However, he took a nine-month medical leave in late 2017 to return to his native England to battle cancer, and has now indicated he wants to step down, the sources told Reuters.

“He wants to concentrate on his health so he did not wish to renew his contract,” said one of them, speaking on condition of anonymity as there has been no official announcement.

Collymore told Reuters on Monday he was still in discussions with the board, adding it would make announcements on the chief executive position at a later date.

“I have every confidence that whether I’m here or not, that this company will run … This is an institution. It is not a company which is just run by a single person,” he said.

During his tenure, Safaricom’s share price has increased by more than 400 percent to 28.00 shillings ($0.28). He has also led the charge against regulatory efforts to clip the company’s wings due to its dominant size.

Safaricom, which is 35 percent owned by South Africa’s Vodacom, controls about 62 percent of Kenya’s mobile market, with 30 million subscribers. Britain’s Vodafone has a 5 percent stake and the Kenyan government 35 percent.

Private investors also own shares via the Nairobi bourse.

Safaricom, which has not commented on Collymore’s departure, will report its financial results for the year to the end of March on May 3.

The board interviewed candidates, including a senior Kenyan banking executive, before settling on an unidentified foreign national from within the Vodafone group to succeed Collymore, one of the sources said.

But the government objected, citing an agreement supporting the appointment of a Kenyan as CEO, adopted at a shareholder meeting in 2017.

“The state has said ‘no’. They might have to negotiate,” said the source with knowledge of the succession process.

Joe Mucheru, the minister for information communication and technology, said there had been no formal communication from the company on Collymore’s successor.

However, he said he would be surprised if the board could not find a Kenyan to run the company, adding that part of Collymore’s remit was to groom a local successor.

“I would be very surprised if they can’t find a Kenyan. It will be hard for them to justify, what is so special about telecoms?” Mucheru told Reuters.

https://africa.cgtn.com/...e-announces-retirement/

What happens if the CEO feels s/he is beholden to Mucheru or Rotich and not the shareholders?


There is no value a Kenyan CEO will add.
The likes of Mucheru want to put someone they can manipulate and eat from Safaricom.
No shareholder interest here.Looting,looting and filling company with kinsmen who don't have the necessary qualifications


shareholders be damned if the overly corrupt and grossly inept government starts meddling in the affairs of safaricom. Already their data services are mafi ya chicken compared to Airtel


When Gok is in management, count that as a potential risk
Work hard at your job and you can make a living. Work hard on yourself and you can make a fortune.

young
#205 Posted : Thursday, May 02, 2019 10:48:32 AM
Rank: Elder


Joined: 6/20/2007
Posts: 1,896
Location: Lagos, Nigeria
Safaricom has printed 29.00 Bob today .

Hope there will be good news in tomorrows FY results
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
guru267
#206 Posted : Thursday, May 02, 2019 10:52:40 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,668
Location: Nairobi
young wrote:
Safaricom has printed 29.00 Bob today .

Hope there will be good news in tomorrows FY results


Buy the rumor sell the news. I hope people don't get caught out in this frequent trap.
Mark 12:29
Deuteronomy 4:16
Ericsson
#207 Posted : Thursday, May 02, 2019 10:57:06 AM
Rank: Elder


Joined: 12/4/2009
Posts: 7,619
Location: NAIROBI
guru267 wrote:
young wrote:
Safaricom has printed 29.00 Bob today .

Hope there will be good news in tomorrows FY results


Buy the rumor sell the news. I hope people don't get caught out in this frequent trap.


Profit before Tax at ksh.94bn
guru267
#208 Posted : Thursday, May 02, 2019 11:04:35 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,668
Location: Nairobi
Ericsson wrote:
guru267 wrote:
young wrote:
Safaricom has printed 29.00 Bob today .

Hope there will be good news in tomorrows FY results


Buy the rumor sell the news. I hope people don't get caught out in this frequent trap.


Profit before Tax at ksh.94bn


If that's the case then the value of the share pretty much around where it is now ksh. 29-31 given current market conditions.
Mark 12:29
Deuteronomy 4:16
xtina
#209 Posted : Thursday, May 02, 2019 11:18:49 AM
Rank: Member


Joined: 6/26/2008
Posts: 271
young wrote:
Safaricom has printed 29.00 Bob today .

Hope there will be good news in tomorrows FY results


Applause Applause i have sold some shares at 29.50, couldn't resist. i hope it gets to 30/31 i sell more...
Ericsson
#210 Posted : Thursday, May 02, 2019 11:38:07 AM
Rank: Elder


Joined: 12/4/2009
Posts: 7,619
Location: NAIROBI
xtina wrote:
young wrote:
Safaricom has printed 29.00 Bob today .

Hope there will be good news in tomorrows FY results


Applause Applause i have sold some shares at 29.50, couldn't resist. i hope it gets to 30/31 i sell more...


It can even get to 34
young
#211 Posted : Thursday, May 02, 2019 1:17:49 PM
Rank: Elder


Joined: 6/20/2007
Posts: 1,896
Location: Lagos, Nigeria
guru267 wrote:
young wrote:
Safaricom has printed 29.00 Bob today .

Hope there will be good news in tomorrows FY results


Buy the rumor sell the news. I hope people don't get caught out in this frequent trap.


Getting close to END of major earnings season (except EABL) before major market correction.
That is downward trend in most counter prices in few months ahead.
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
Ericsson
#212 Posted : Thursday, May 02, 2019 1:33:45 PM
Rank: Elder


Joined: 12/4/2009
Posts: 7,619
Location: NAIROBI
Ericsson wrote:
guru267 wrote:
young wrote:
Safaricom has printed 29.00 Bob today .

Hope there will be good news in tomorrows FY results


Buy the rumor sell the news. I hope people don't get caught out in this frequent trap.


Profit before Tax at ksh.94bn


Dividend ksh.1.25 per share
VituVingiSana
#213 Posted : Thursday, May 02, 2019 4:39:02 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,512
Location: Nairobi
young wrote:
guru267 wrote:
young wrote:
Safaricom has printed 29.00 Bob today .

Hope there will be good news in tomorrows FY results


Buy the rumor sell the news. I hope people don't get caught out in this frequent trap.


Getting close to END of major earnings season (except EABL) before major market correction.
That is downward trend in most counter prices in few months ahead.

But Mzee for Wazee like us, the ups and downs are hard to trade. For me anyway. Unless there is an egregious rise in the price or the price seems unsustainable, I stay put.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#214 Posted : Thursday, May 02, 2019 4:40:51 PM
Rank: Elder


Joined: 12/4/2009
Posts: 7,619
Location: NAIROBI
Kenya’s top telecommunications company expects a new CEO in six weeks according to information published on Bloomberg. It follows a rigorous selection process that saw 40 applicants trimmed down to 8 candidates.
mufasa
#215 Posted : Wednesday, May 22, 2019 9:34:03 AM
Rank: Member


Joined: 4/15/2008
Posts: 166
Huawei sanction likely to hit Safaricom Link

This trade war will leave Huawei with a huge dent, recovery is highly unlikely.
Do it today! Tomorrow is promise to no-one.
xtina
#216 Posted : Wednesday, May 22, 2019 2:49:01 PM
Rank: Member


Joined: 6/26/2008
Posts: 271
mufasa wrote:
Huawei sanction likely to hit Safaricom Link

This trade war will leave Huawei with a huge dent, recovery is highly unlikely.


Share at 26.10. @young, in light of this Huawei issue, what are your long-term prospects of Safcom? From the article:

The US’s blacklisting of Chinese tech giant Huawei could potentially filter through to the Kenyan market due to the high exposure by government and leading telcos to the firm’s equipment, a local investment bank has said.

Standard Investment Bank says in a topical note on Safaricom that the Huawei ban is likely to have an impact on future smartphone sales, and in the long-term would also make network equipment more expensive because it could reduce the number of suppliers in what is already a small pool.

SIB says although the Huawei issue is still developing, concern is on whether Safaricom’s British parent firm, Vodafone, will look to take a similar position as its US counterparts on dealing with Huawei.

“Whereas Safaricom maintains it has a dual-vendor network, Huawei is the bigger supplier to Nokia by our estimation, potentially presenting a material risk,” said the SIB report.

“We see an impact on future sales of smartphone and network equipment, especially if support for some of the core services used in the Kenyan market such as Google (Android, Google Play Store Services, Security, YouTube, Gmail, Drive.) is applied.”


Safaricom had a network expansion and maintenance capital expenditure of between Sh35 billion and Sh39 billion in a financial year.

SIB notes, however, any restrictions on Huawei equipment will apply in future rather than historical investments, which will mean lower risk of heavy investment to potentially replace existing networks.

The government could also potentially find itself at a crossroads on the issue, having only recently signed a Sh17.5 million deal with China for the Konza data centre, which will be led by Huawei. The State also uses Huawei security equipment.

“Kenya, as with most African countries, has really never had to deal with the complication of sanctions from the United States in the way this directive on Huawei may impact the country,” say SIB.

Huawei has been fighting claims that the action by the US will affect its business in other countries.
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