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Safaricom, Ltd is a leading mobile network operator in Kenya. It was formed in 1997 as a fully owned subsidiary of Telkom Kenya. In May 2000, Vodafone group Plc of the United Kingdom, the worlds largest Telecommunication company, acquired a 40% stake and management responsibility for the company. Telkom Kenya as a result owns a 60% stake in the company. As of May 17, 2006, Mr Michael Joseph is the CEO. Recent reports appearing in the cross section of the press indicate that Vodafone Plc of UK only owns 35% and the remaining 5% is owned by a little known company, Mobitelea. The reports have caused a stir which led to the summoning of its CEO Michael Joseph to appear before the PIC "Public Investment Committee", during which he denied knowing who the other shareholder is. It is widely believed that the former regime arm twisted Vodafone to shed off the 5% as a kickback to high ranking officials in the regime. Safaricom recently had plans underway to make an IPO in the Nairobi Stock exchange but it appears it will take longer until the other shareholder's identity is disclosed either as an individual or company.

Safaricom employ over 700 people mainly stationed in Nairobi and the other big cities; Mombasa and Kisumu in which it manages retail outlets. Currently, it has nationwide dealerships to ensure customers across the country have access to its services.

Currently it boasts a subscriber base of about 5 million in 2006 most of whom are in the major cities - Nairobi, Mombasa, Kisumu and Nakuru.

Its headquarters is located in Safaricom House, Waiyaki Way in Westlands, Nairobi. It has other offices in the city center in I&M building, Kenyatta Avenue and Extelcoms House along Haile Selasie Avenue

Its main rival is Celtel Kenya.

Safaricom also has charitable functions where it helps the less fortunate in the society.

Contents 1 Electronic cash service 2 See also 3 Notes and references 4 External links

Safaricom has developed and launched nationwide an electronic cash service called M-PESA, that allows Kenyans to transfer money via SMS.^[1] The service does not require users to have bank accounts, an important aspect in a country like Kenya, where many people do not have bank accounts. With M-PESA, the user can buy digital funds at any M-PESA agent and send that electric cash to any other mobile phone user in Kenya, who can then redeem it for conventional cash at any agent. This system is remotely comparable to hawala banking or services like Western Union. An M-PESA enabled mobile phone can also function as an electronic wallet and can hold up to 50,000 Kenyan shilling.^[2] Safaricom stakeholder Vodafone, which partnered in the development of M-PESA, has announced that it intends to roll out M-PESA internationally as well.

Mobitelea Ventures Limited

• http://www.safaricom.co.ke
• http://www.safaricomfoundation.org