Safaricom is set to bill the government Sh9.2 billion for construction of the communication and surveillance system for the National Police Service.
The payment is to be spread over the next five years, with the amounts set to be booked as revenue.
Safaricom said the Sh9.2 billion revenue is based on percentage of completion, indicating that it could bill the government to the tune of Sh10 billion once the project is complete.
“The percentage of completion is determined based on work done compared to the estimated costs to completion,” the report reads.
Safaricom also noted in the report that no profit or loss has been recognised as none is deemed at this point.
http://www.nation.co.ke/...40054-dfrejcz/index.html"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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