HumanIPO reported earlier today on Safaricom’s results for the year ending March 31, 2013, which included pre-tax profit of KSh25.5 billion (US$304 million) for 2012/13, an increase of 47 per cent compared to the 2011/12 financial year.
During the presentation of the report Nicholas Nganga, the board chairman, acknowledged the management, Safaricom’s stakeholders, agents, and their partners on their commitment and effort towards substantial improvement on customer’s satisfaction.
Bob Collymore, Safaricom chief executive officer (CEO), went on discuss the various projects they have lined up for the next financial year which include increasing the coverage of its 2G and 3G networks, modernising networks in six key cities and rolling out fibre to at least 40 per cent of sites in Nairobi.
There is also an 18 month program to locate a new M-Pesa system in Kenya.
The company added: “M-Pesa will be the driver for deepening financial inclusion through expanding our distribution network and with it accessibility; reducing system downtimes substantially and growing retail and e-commerce payments.”
The company is promising to come up with other ways of speeding up internet connectivity through use of lower cost 3G smartphones, value based pricing of data and collaborating with developers to increase level of information.
The five-year metro fibre programme of 550km, starting in Nairobi, is Safaricom’s goal to connect all of their metro sites and customer offices to fibre enabling environments.
Collymore said 76km out of the total 550km has been completed, an indication that the programme is improving.