Safaricom Chief Executive Bob Collymore at a past function. [ Photo/The Star]
Safaricom suffered a loss of Ksh.400 million during the electioneering period.
According to Chief Executive Bob Collymore, the loss of the said amount occurred because of the closure of a number of Mpesa shops across the nation because of security concerns among other reasons.
The company, however, recorded an improvement in the data services during this period as Kenyans elected their leaders.
Collymore also attributed the loss to other short term factors such as drought and inflation on the loss. He spoke at the sidelines of the Safaricom Annual General Meeting.
“We also found a lot of areas just shut their shops because they were scared of violence and they were scared of having cash on the premises,” Collymore said, as quoted by Capital FM.
On his part, Safaricom chairman Nicholas Nganga said that one of the greatest challenges facing the firm is increased competition from other service providers.