Safaricom not separating the wheat from the chaff

10 Apr 2008

Kenyan mobile operator Safaricom’s IPO documents have revealed that its reported subscriber base includes inactive users. The 9.2 million subscribers the company claimed at the end of 2007 is the total of all people who have ever owned a Safaricom line since it was founded seven years ago, some of whom may have never placed a call. As a result, the operator’s real growth rate, and the subscriber base gap between it and rival Celtel, are likely to be much smaller than previously thought.

Kenya, Safaricom