Safaricom gains stock value with increase in subscriber base (Kenya)

Safaricom, a leading mobile network operator in Kenya, has added maximum number of subscribers in the second quarter of 2011, causing its share price to rise. According to reports, the stock rose 1.7 percent from US$ 0.033 on 30 December 2011 to US$ 0.034 on 6 January 2012.

As per sources, the Communications Commission of Kenya revealed that Safaricom is currently the most dominant operator in Kenya with a market share of 67.7 percent. Further, the Commission has reportedly stated that Safaricom added the highest number of new customers at 593,177 followed by Airtel Networks Kenya Ltd., with 557,567 new subscriptions in the quarter ending September. Also, Essar Telecom Kenya Ltd., added 46,742 new customers while Telkom Kenya Ltd., added 16,683 new users.