By Redaction ARPS Media with Kenya Times
Safaricom PLC is the first company in East and Central Africa to surpass a market value of $7 billion (about Ksh922 billion).
On June 10, 2023, its share price increased by 6.34%, closing at Ksh 22.60.
Since October 2023, Safaricom’s stock has increased by 64%, with a year-to-date gain of over 32.5%.
The NSE All-Share Index rose by 2.82%, reaching its highest level since September 2022, contributing to a total market value of Ksh 2.2 trillion.
Safaricom is experiencing growth in its Ethiopian operations and tech services, such as M-Pesa.
The National Treasury plans to sell part of its 35% stake in Safaricom, valued at about Ksh280.5 billion, aiming to raise Ksh149 billion through privatization before June 2026.
The Central Depository and Settlement Corporation converted 16 billion Safaricom shares to electronic form, enhancing market efficiency and investor confidence.
Read the original article at: Safaricom is Today East Africa’s First $7 Billion Company
