Kenya’s government has sold a 15% stake in telecom giant Safaricom for KSh240.5 billion, securing a vital cash injection while handing majority control of the country’s most valuable company to South Africa’s Vodacom. National Treasury Cabinet Secretary John Mbadi confirmed the transaction on Thursday, saying 6.01 billion ordinary shares were sold at KSh34 each to…
Kenya’s telecom giant Safaricom has insisted it will stick to its generous 80% dividend payout policy even as it raises fresh debt through a landmark green bond to fund sustainability projects and growth in Ethiopia. The company opened subscription for a KSh15 billion tax-exempt green bond on Tuesday, the first slice of a KSh40 billion…
Safaricom, Kenya dominant telecoms group, on Tuesday opened subscription for the country first-ever tax-free corporate green bond, a landmark KSh15 billion (USD116 million) five-year issue that analysts say could reignite a sleepy local debt market while channelling funds into climate-friendly infrastructure. The bond, which carries a fixed 10.4% coupon, is fully exempt from Kenya standard…
Kenya’s leading telecom operator Safaricom is set to expand high-speed internet to remote areas through a new partnership between its parent company Vodacom and Elon Musk-owned Starlink. The deal, announced on 12 November at the Africa Tech Festival in Cape Town, will see Vodacom use Starlink satellites to strengthen mobile network coverage across Africa, with…
