Investors demand response to 'wars'

Safaricom's top management today came face to face with anxious shareholders who demanded to know what the firm is doing to counter cheap tariffs, offered by its competitors. In response, Safaricom told investors during the annual general meeting, that the firm will respond to the stiff competition, but not through price wars.

Category:

News & Politics

Tags:

• Investors
• demand
• response
• to
• 'wars'

[madscientistify]

@surambaya hapo umeongea, thats what i was tellin my bro when he went and bought its shares.sai analia vibaya sana

[madscientistify]

@pierrre23 what were they doin??

[pierrre23]

@madscientistify

The whole Safcom is arrogant....what you see here goes down the firm. I used to deal with them as a dealer and wow the arrogance even from junior staff was so much to handle.

[pierrre23]

@bethukip  Its bcos the shareholders cannot sack them, its that simple!

[surambaya]

@siasaduni - Lol @ "mwafrika mwenzenu". True, 40% is owned by Vodafone and foreign investors have increased their shareholding by 63% over the last year while local investors have reduced theirs. See, people thought they would make a quick buck when the co. went public - really? Safaricom has 40Bn shares outstanding - who did they think they were going to sell those shares to in order to make money?

[madscientistify]

@siasaduni baas ushaongea.ati its a kenyan company, wapi??i always say of how incensed i am at foreign firms dominatoing the whole telecomms sector in kenya

[siasabora]

@mads: Hate the game Not the players....the losers were newcomers to this game. It was a gamble and shareholders lost badly! Soon them shares will not be worth the paper they are written on as panic disposals sets in...

[siasaduni]

@surambaya the game is simple most of the profits r going abroad vodacom 2 b specific,i pity this small time shareholders,u r their 4 window dressing.and now the real owners have brought a black briton so that muone ni mwafrika mwenzenu.

[surambaya]

@jugholder - Well, well - what does that mean? That the company should pay out all its profits in dividends? What about reinvestment for growth? What about the fact that those profits are not wholly cash on the balance sheet and a good part of it may represent paper gains from e.g. investment holdings? Hmmmm.....

[surambaya]

Safaricom shares are suffering from the malaise that is lack of liquidity on the NSE coupled with large, little-traded holdings by both the Govt of Kenya and vodaphone. For crying out loud the company has a 26% ROE and 20% ROA and 12.7 PE. These shareholders should stop whining so much - a 4.1% dividend yield is better than nothing plus telecoms is the dirty old maid at the prom.