Safaricom shows resilience inspite of Sh20 billion value loss

The loss in valuation is not as steep as had been expected

The slight loss in valuation has been attributed to the ongoing call for a boycott of the company's products by the opposition NASA coalition as payback for the company's alleged role in the loss of the party's presidential candidate ,Raila Odinga.

The loss in valuation is not as steep as expected with the hardest hit for the company coming from its M-Pesa product.

According to analysts, M-Pesa penetration which had been on a high before the election had reduced from 71 percent to 69 percent in the first half of 2017/18.

Earlier this week, the Luo Youth Caucus called on the leadership of NASA to reconsider their boycott strategy due to its impact on the economy within the Nyanza areas, considered a stronghold of NASA.

“The National Youth Council, in partnership with Uwezo Fund and the Youth Fund, mobilised resources in connection with Safaricom and gave many young people  all over the country. It is so sad when leaders call for banning of these shops when the same youths are servicing loans acquired to set up the shops, without giving alternatives to the same the group said"

According to the Business Daily , Safaricom agents in opposition strongholds like Kisumu and Siaya have complained about persistent harassment at their booths.

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Why do guys still masturbate when they have girlfriends?

Why do guys still masturbate when they have girlfriends?

Police uniform, weapon are ID - Mutyambai addresses Boniface Mwangi's trending clips

Police uniform, weapon are ID - Mutyambai addresses Boniface Mwangi's trending clips

From Millionaire to Hawker - How Muthee is rebuilding his life from scratch

From Millionaire to Hawker - How Muthee is rebuilding his life from scratch

If I rise, let me rise with other people - Crazy Kennar scoops 3 titles at the Pulse Influencer Awards

If I rise, let me rise with other people - Crazy Kennar scoops 3 titles at the Pulse Influencer Awards

Zuckerberg loses $6 billion hours after Facebook, WhatsApp, Instagram crashed

Zuckerberg loses $6 billion hours after Facebook, WhatsApp, Instagram crashed

Cooking for Drake, collaboration with Wizkid and other things Tems revealed in a Twitter Q&A

Cooking for Drake, collaboration with Wizkid and other things Tems revealed in a Twitter Q&A

I spent Sh800K - Vera speaks on begging for money to fund lavish Baby shower

I spent Sh800K - Vera speaks on begging for money to fund lavish Baby shower

Uhuru issues demands as heartbreak grips Kianjokoma brothers' funeral

Uhuru issues demands as heartbreak grips Kianjokoma brothers' funeral

11 fashion choices by women that men hate

11 fashion choices by women that men hate