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Safaricom Eyes Home Fibre as Virus Keeps Subscribers at Home


July. 31, 2020

Mobile firm Safaricom has set its sights on increasing its home fibre coverage to ensure its subscribers remain connected.
The firm is drawing this new plan as disruptions caused by the coronavirus pandemic keeps more people at home.
” We have a huge opportunity to enable our customers to work or study from home. We are planning to roll out a home fibre connection plan. Between March and June, we have been able to add 25,000 new connections to home fibre,” said Peter Ndegwa, Safaricom Chief Executive Officer.
He made these remarks during the firm’s virtual Annual General Meeting(AGM). At the moment, Safaricom offers 4 Home Fibre packages designed to meet a subscriber’s daily work, education or entertainment requirements.
Safaricom has so far spent nearly KSh 6.5 Billion to assist its customers and the public during this pandemic.
“We have ensured that Kenya remains connected and cushioned during this pandemic by providing free M-PESA transfers for low denominations, doubling our bandwidth, supplying food to most vulnerable groups, supporting small businesses through the provision of an M-PESA business App and providing a payment plan that allows those with 2G handsets to acquire 4G smartphones through Lipa na M-PESA mdogo mdogo,” said Ndegwa.
During the electronic AGM, shareholders passed a resolution appointing Ernst& Young as the firm’s external auditors. It replaces Pricewaterhouse Coopers, a long time auditor of the firm.
Safaricom shareholders also approved a dividend payout worth KSh 56 billion. The dividend will be payable on or about 31st August 2020. Shareholders on the register as at the close of business on 31st July 2020, will be considered.
Safaricom shareholders also re-elected Ms Rose Ogega, Dr Bitange Ndemo and Mr Mohamed Joosub, while replacing Mrs Esther Koimett.
National Treasury, which is the majority shareholder in Safaricom, directed the replacement of Esther Koimett as a director of the Board.
Dr Julius Muia, the Principal Secretary, National Treasury, has replaced her.
Safaricom’s Board has accepted the retirement of Nicholas Nganga as Chairman to be replaced by Michael Joseph, the firm’s former CEO and also Chairman of the Board of Kenya Airways.
Nganga, who has been with Safaricom for the last 13 years leaves the firm having worked with 3 CEOs.
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