Safaricom

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Safaricom, Ltd is a leading mobile network operator in Kenya. It was formed in 1997 as a fully owned subsidiary of Telkom Kenya. In May 2000, Vodafone group Plc of the United Kingdom, the worlds largest Telecommunication company, acquired a 40% stake and management responsibility for the company. Telkom Kenya as a result owns a 60% stake in the company. As of May 17, 2006, Mr Michael Joseph is the CEO.But 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 Mobitelea. The reports have caused a stir which led to the summoning of its CEO Michael Joseph to appear before the PIC "Public Investment Committee", during which he denied knowing who the other shareholder is. It is widely believed that the former regime armtwisted Vodafone to shed off the 5% as a kickback to high ranking officials in the regime. Safaricom recently had plans underway to make an IPO in the Nairobi Stock exchange but it appears it will take longer until the other shareholder's identity is disclosed either as an individual or company.

It has in its employment over 700 people stationed mainly in Nairobi and the other big cities; Mombasa and Kisumu in which it manages retail outlets. Currently, it has nationwide dealerships to ensure customers across the country have access to its services.

Currently it boasts a subscriber base of about 4million in 2005 most of whom are in the major cities - Nairobi, Mombasa, Kisumu and Nakuru.

Its headquarters is located in Safaricom House, Waiyaki Way in Westlands, Nairobi. It has other offices in the city center in I&M building, Kenyatta Avenue and Extelcoms House along Haile Selasie Avenue

Its main rival is Celtel Kenya.

Safaricom also has charitable functions where it helps the less fortunate in the society. currently it has a competition where you send an sms through your mobile phone ans stand a chance to win one of the 25 nissan pick-ups