Could Safcom find 20 this year as the balance? With all this strength Safcom could even divest to other sources of income. Real estate is very neutral as it could even use its money to build Serviced apartments, Hotel buildings, Office buildings ll for rent.
Safcom can invest in Public semi-government areas where it can help govt collect Taxes from those paying through their re-invented M-pesa where Individual or corporate tax information is at a click of a mouse.

Tech companies are not best valued using PE's, its just too simplistic and it doesn't tell anything about the health of the business, the high PE factors in the anticipated growth.
YoY EBITDA would be the best way to value these companies. That's why value investors like Buffett try to keep off tech stocks. Amazon has a PE ratio of about 295, in Dec 2012, the PE ratio was about 3660.

What you should be looking at is 1. YoY growth, 2. Business model that is difficult to copy (MPESA) 3. Customer loyalty and segmentation 4. Margins.

I am expecting a dramatic selloff to 15/- before a rebound towards 20s .

Year On Year

Good news indeed! i think its because of the land scandal.Kudos vodafone,they are proving to be my good partner.Though i would prefer they bring back the 40% holding to us.