The sports category has moved to a new website.
ADVERTISEMENT

Safaricom changes its name

You will have to get used to the new name.

The change of name, the telecom has said in a notice, will not affect the contracts entered with its clients, and quipped that the change was entirely informed by the Certificate of Change issued by the Registrar of Companies in September, 2017.

“This is to notify the general public that in compliance with section 53 of the Companies Act 2015, and in line with the approval granted by the companies’ Shareholders during the Annual General Meeting held on September 15, 2017, has changed its name to , effective 31 January, 2018” a notice signed by Company Secretary Kathryne Maundu to shareholders in the local dailies read in part.

ADVERTISEMENT

"A company that is both a limited company and a Registration of public limited public company may only be registered with a name that companies. ends with the words "public limited company" or the abbreviation "plc"," Section 53 of the Companies Act, 2015 states.

Basically, a public limited company is that entity whose “shares may be freely sold and traded to the public (although a plc may also be privately held, often by another plc), with a specified minimum share capital at the Nairobi Stock Exchange.”

According to Investopedia, "a public limited company (PLC) is the legal designation of a limited liability company which has offered shares to the general public and has limited liability."

A PLC's stock is offered to the general public and can be acquired by anyone, either privately, during an initial public offering or through trades on the stock market.

Services

ADVERTISEMENT

Safaricom PLC confirmed that the change of name will not, however, affect the services it renders to its clients, nor will it affect the current contracts the form has entered.

“All contractual relationships and obligations that the Company has with its customers, partners and other stakeholders are not affected by the change in name,” it said.

Safaricom in the recent past has diversified its services, launching numerous products especially in entertainment, money transfer and savings. It recently launched a music application, Songa, which enables customers to download music at a fee.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Alternative saccos Forward Travellers' passengers can use after NTSA ban

Alternative saccos Forward Travellers' passengers can use after NTSA ban

Ruto addresses mūgūka ban & commits Sh500 million

Ruto addresses mūgūka ban & commits Sh500 million

CCTV footage shows moments before U.S. Embassy engineer was shot outside Kiambu club

CCTV footage shows moments before U.S. Embassy engineer was shot outside Kiambu club

Food & other expenses U.S. presidents pay from their pockets - What Kenya can learn

Food & other expenses U.S. presidents pay from their pockets - What Kenya can learn

How much Kenya Airways tickets could have cost for Ruto's U.S. trip - Report

How much Kenya Airways tickets could have cost for Ruto's U.S. trip - Report

Another county imposes ban on  sale and consumption of muguka

Another county imposes ban on sale and consumption of muguka

Former president Kenyatta to lead 60-member team for AU duty in South Africa

Former president Kenyatta to lead 60-member team for AU duty in South Africa

Reactions to Ruto's remarks that his private jet to U.S. was cheaper than travelling on KQ

Reactions to Ruto's remarks that his private jet to U.S. was cheaper than travelling on KQ

Military benefits Kenya will enjoy after recognition as a non-NATO ally by U.S.

Military benefits Kenya will enjoy after recognition as a non-NATO ally by U.S.

ADVERTISEMENT