@sheep i am confident of saf in the long run as long as it retains its dominant position and market leader status, regardless of the CEO. If the competition starts to eat into saf's mkt share significantly then i will be worried.

Competition is already gobbling Safcom market share,especially YU.The economics of safcom are bad,voice revenues are on the decline and they are safcoms bread and butter.The sideshows Mpesa and data cannot sufficiently boost the bottom line to justify a p/e of 20+.Some foreigners somewhere will be left scratching their heads.

@sheep - Wacha madharao... ;-) Kwani safcom ate ur mbuzi?

safcom @ PER of 20???? Please give me the math...

@sheep What is P/E?

Well said,two years and no gains just airtime dividends am out tommorow before we hit below 5,with the huge supply i saw on friday downward pressure is inevitable.

@the deal i agree with safcom being a terrific growth stock.. they have 10million Mpesa subscribers which is more than the total banking population in kenya and the data business is just getting started...

though i do have a bone to pick with you on the issue of stock buy backs... stock buy backs as good and as healthy as they are, are NOT allowed at the NSE... what safcom will do is called a share consolidation which is the exact opposite of a share split...

safcom will post full year results of more than 20billion this year even with a HUGE investment expenditure in 2009...

in three years alot of investors critisizing the stock will eat their words...

Why do you think so?
Please share a bit more...

@2012 its just educated speculation based on half year results and projected revenue streams..

and I'd like to make a small observation about Safaricom and Mpesa - but first let me mention what I have said before about Simu Ya Jamii.

Simu ya Jamii started off as a good idea on how to create employment and share talk time revenues with small business owners (some relying entirely on the device to make income). The idea was to even allow current subscribers to make a call just for the duration they need if they could not top up with Kshs 50 bob. And of course as part of its obligation to allow Universal Access to those who could not afford phones. Then it lowers the bar (or raises the bar depending on how you want to look at it) and brings a 20 bob card - no one goes to Simu ya Jamii anymore since 20 is accessible. Of course we have more litter now that we have 10 and 5 cards as well....

Back to Mpesa - and we have seen SK members getting excited about this and also various discussions. Anyway, now that the "retail" market has reached saturation, no one really makes money from Mpesa except Safaricom. Where we would have x outlets in 1 km/sq, we now have x3 outlets - revenues are spread thin (smaller slices of the cake). Some are worse off the others I hear. Now, I think the axe is hovering - no need to go to Djinn Photo Studio or Wazua Pharmacy to collect M-pesa - just go to pesa point or any Equity ATM (zero HR costs, zero capex on equipment or maintenance since the ATM is already there, therefore more margins). Djinn Photo Studio closes at 7pm - ATM open 24/7. ATM definitely has a float - Djinn Photo Studio cannot pay out Kshs 15,000....