₦airaland Forum

TayserMahri:
Safaricom pumps Sh601bn into economy in one year

Safaricom injected Sh601 billion into the Kenyan economy in the year ended March 2019, making the telecommunications giant one of the single-biggest contributors to the country’s GDP.

The economic contribution came in the form of jobs, value chain opportunities for other businesses, taxes and dividends to shareholders.

The telco’s capital expenditure, which stood at Sh37.2 billion in the period, also contributed to the economy through payments to suppliers and contractors.

Safaricom says in the self-appraisal that it supported an estimated 979,000 direct and indirect jobs, up from 897,372 in 2017.
The Nairobi Securities Exchange (NSE)-listed company disclosed in its 2019 annual report released Wednesday that its value to the Kenyan economy rose by 11 percent or Sh58 billion in the year from Sh543 billion the previous year.

“Our latest True Value Report indicates that the value to the Kenyan society created by Safaricom increased by 11 percent to Sh601 billion, 9.6 times the financial profit the company earned during the same period,” says Safaricom in the annual report.

The firm’s operations contributed an equivalent of 6.3 percent of GDP in the period.

The growth in the job count came even as other sectors of the economy continued to shed workers, citing a tough economic climate.

Shed workers

Safaricom’s rival Telkom Kenya Wednesday announced it would lay off 575 staff while beer maker EABL also notified its staff of a redundancy plan that sources indicated would target more than 100 employees.

Stanbic Bank is also in the process of exiting an estimated 200 workers.

The telco is the largest listed firm on the NSE, with a current market capitalisation of Sh1.099 trillion.

The company paid Sh98.13 billion to the government in duties, taxes and licence fees last year, having made gross revenue of Sh250.96 billion and net profit of Sh63.4 billion.

“This increased the total duties, taxes and fees paid since inception to Sh698.52 billion,” said Safaricom in the report.

The telco’s payout to shareholders for the 2018/19 financial year included a special dividend of Sh0.62 per share, amounting to Sh24.84 billion, which was in addition to the first and final dividend of Sh1.25 per share totalling Sh50.08 billion.

The cash will be remitted to the company’s 560,018 shareholders on November 30.

Safaricom was founded in 1997 as a wholly-owned subsidiary of Telkom Kenya, and in June 2008 listed on the NSE where the government offloaded a 25 percent stake to the public.

The company had an employee headcount of 6,323 (permanent staff and contract) by the end of March, which was an increase from 6,130 the previous year.

They were paid a total of Sh16.93 billion, which included salaries, pension contributions, medical cover, employee performance share awards and other benefits.

Thousands of jobs

Its mobile money platform M-Pesa also supports thousands of jobs, both directly and indirectly.

By the end of March, Safaricom had on its books 167,000 M-Pesa agents, up from 156,000 a year earlier, while the Lipa na M-Pesa merchant count stood at 123,000.

The company had 31.8 million customers at the end of March, with 71 percent or 22.6 million of them being active users of the M-Pesa service.

Other jobs are derived from indirect activities such as suppliers, airtime dealers, distributors and users of the company’s various products.

By easing payments, the mobile money platform has opened up new business avenues in the country, and has also helped increase trade volumes.

In the one year to March 2019, Kenyans transacted a total of Sh4.09 trillion through their mobile phones, equivalent to Sh11.19 billion a day.

This has contributed significantly to the rapid rise in the number of Kenyans who are accessing formal financial services.

According to the 2019 Financial Access (FinAcess) Household Survey done by Financial Sector Deepening (FSD) Kenya, Central Bank of Kenya and the Kenya National Bureau of Statistics (KNBS), the proportion of Kenyans accessing financial services has risen to 82.9 percent from 75 percent in 2016 and 27 percent in 2006.

Safaricom also banks on its digital platforms for farming (DigiFarm) and healthcare (M-Tiba) to support indirect jobs.

The annual report shows that Safaricom had registered one million farmers on the DigiFarm platform by the end of March, with over 300,000 using the service daily and 52,000 having their loans approved for purchase of seeds, fertilisers and pesticides.

https://www.businessdailyafrica.com/corporate/companies/Safaricom-pumps-Sh601bn-into-economy-in-one-year/4003102-5218860-yd494nz/index.html

So now there is economic hardship in Kenya

I welcome all of you to Zanzibar.

https://www.youtube.com/watch?v=i7iNIcPCEm8

Mkenya2019:
You excel in asking stupid questions that google can easily resolves...Electricity production was dominated by large hydro power plants until recently. However, due to extensive droughts in the country further exacerbated by a focus on generation from only two rivers, their contribution to total supply has fallen dramatically. This has forced the utility to use extensive load shedding, thermal power plants for base load and emergency power installations at considerable financial cost. This situation has led to an active promotion of further utilisation of natural gas in the medium term and a desire for a broader mix incorporating further renewable energy resources including wind, geothermal and sol

When did last time Tanzania faced drought? You are saying Tanzania is in load shedding so show us in this year 2019 any news or time of power outage per month or day.

Mkenya2019:
Power rationing is different from brown outs or black outs. Its load shedding because of sustained low power supply.South Africa is in that mess now but they have what 30-40 thousands megawatts of power. You trains will be stalling mid-way. Our diesel train ran at 120km per hour...still very decent speeds.

So show us that load shedding in Tanzania rather than making empty words.

Mkenya2019:
Last I checked you had power rationing...why...and now you want to electrify trains...they will be stalling mid way like Ethiopean trains.

Can you show us where did you get that?

gallivant:
Give us the a absolute number of passengers annually. Every airport keeps such data.

You are the one in need, you are the one who make those empty statements. You should come with statistics not empty words.

rvp2018:
Kenya doing very well..I am shocked by TZ figures.

let's go to CIA world factbook.https://www.cia.gov/library/publications/the-world-factbook/geos/tz.html and https://www.cia.gov/library/publications/the-world-factbook/geos/ke.html

1Photo- Tanzania
2Photo- Kenya

gallivant:
Give me the number of passengers handled, not the amount of UN planes going to and from the Congo.

That's I said you are deluded. So UN planes are counted as passengers flights per day. I will agree with Nairobi not Mombasa, Kilimanjaro airport will eclipse your Mombasa soon and you will still living in your fantasy world.

rvp2018:
Make Tanzania great when economy has tanked(3% growth rate), foreign investment dried up, when there is capital flight to Kenya and Tanzania Shilling has weakened.When gov has cracked down on media, opposition and anybody who disagree with current dictator.When donors are withholding critical funding for the poor.When gov is unable to nail down natural gas and Uganda pipeline deals.You don't just buy a few jets and think country is now great.That is like painting a lipstick on a pig.You using half the budget to service debt.That idiot of a president is urging you to breed like rats, is against pregnant girls continued schooling and hunts down gays in 21st century.He has stymied regional integration and trade.Give him another 10yrs and youll go bankrupt again.Making Tanzania Bankrupt Again is more original and truthful slogan.

IMF project 4% growth, world bank 5.2% and AfDB 6% where did you get 3%. I am sure every citizen of a country has his/her opinion and decision in reproduction including a President. There is one Swahili saying," ukiona watu wote wanafikiria wazo sawa ujue kuna mzembe hafikirii". Magufuli will do his part and go, another President will come and do his part and go. Magufuli may not doing best in other things but I am sure he is doing his best in infrastructure. When his time come to end we will have
1:Health centre in each village, hospital in each district. This have already been much achieved up to now although not 100%
2:We have already paved road connecting each region now we are in paved road connecting each district.
3: Electrified sgr from Dar to Mwanza and Msongati to Rwanda. Now there is construction of phase 1( Dar - Moro) Tc exp 2019 and Phase 2( Moro - Singida/Makutupora)Tc exp 2022.
4: Affordable Houses, Water services and Electricity . Up to 2020, 1800 water projects will be executed. Up to 2022,Stigler gorge Hdro plant 2115MW will be completed.
5: To be continued

gallivant:
The numbers are on Google and Mombasa handles more passengers and cargo than your major airport. Is this a lie?

You are deluded. Mombasa should start to handle more passengers than Zanzibar before thinking of Dar es salaam.

Wizkid is something else.

https://www.youtube.com/watch?v=RXrhqhW2kiU

gallivant:
That's just pathetic from a country that claims to be the giant of Africa.



Well damn, they're not even close and the gap keeps on widening! The weird thing though is that Tanzania has never won any medal, not even a bronze since its inception! It's mind boggling to say the least.

Why man is doing this? We have 2 Silver. Moscow Olympic.

tylann:
All the richest people in Tanzania are either Indian or Arabs no black African
Magufuli said himself Kenyans own around 500 companies in Tanzania while tanzanians own about 20 companies in kenya

That azam guy owns everything in your country

That Azam guy doesn't own everything in Tz and He is not Arab. He is a Swahili from Zanzibar

Kenya need to settle first the security in Nairobi not by sending this high level security team.

Obakillah:
What about albino killings? Is that not a form of caste crime? Why do you think you are better than India?

Is there any society in Tanzania which has an organized system of killing Albinos or discriminate them. Go and slaughter a cow in India you will see what the whole society will do to you. Come to Tanzania and even insult Albino you will see what the society will do to you. They will not kill you buy you will end behind bars with a lesson. Most of Albino killings happened around lake zone due some witchcraft beliefs especially in mining and fishing. Lake zone regions have many mines plus lake Victoria.Those events happened in years around 2010 in a whole Tanzanian history. Why there was no albino killings in Tanzania in 60s, 70s, 80s, 90s, 2000s why around 2010. In india caste system have been there since ancient times.

tylann:
Which whites are you talking about in the first place
Kenyans are generally succesfully in Tanzania because you people are generally dull so you get jealous

In Tanzania people have no jealous for successful people rather than respect. You will hear plenty of people praising how bakhresa or Mengi(rip) rise to be successful people. Mention any successful Kenyan in Tanzania?

tylann:
You are embrassing yourself , your family , magufuli , and Tanzania

Let me help you for the last time
You phone can access Google , please Google

Magufuli needs to get rid of Tanzania education system

You are embarrassing yourself. This made France to have many tourists https://www.thelocal.fr/20140812/six-reasons-why-france-is-top-tourist-destination

This made Finland top education rankings https://www.weforum.org/agenda/2019/02/how-does-finland-s-top-ranking-education-system-work

Factors for development of mining sector https://geographymaterials..com/2015/07/factors-that-influence-development-of.html?m=1

Your space science is largely negligible.

Obakillah:
You have a caste system in Tanzania. Worse than that of India. Other Africans are harassed, arrested and deported on a daily bases. You even had a massacre in Zanzibar once when you killed all the arabs.

Tanzania is not like Kenya which police harass blacks and kiss whites asses. We have Kenyans, Ugandans, Somalis, Rwandan,Burundese etc who work here without being harassed or discriminated by people. In Tanzania you will get a hard time if you come with your thievery habit or ujanjajanja.

tylann:
.

Someone help this guy
I now fully understand why Africans have low IQ
If Tanzanian education system can produce such idiots and major league idiots

Perhaps i have found the answer to this mystery question why is Tanzania is poor despite having huge amounts of natural resources , huge arable land , good climate , peaceful

I can't believe such major league fools still exists in this world

Don't try to act like a genius you low IQ fool. Let's take France as a case study and tell how space science have contributed to them for having many tourists, one of the countries with strong education sector, how have it contributed to their Mining industry? Try even UK or Germany.

Obakillah:
You are not South African. India is ahead of Tanzania in every aspect.

Motherfucker Tanzania has no a caste system which discriminates dark/ black people. Try come to live in Tanzania or go to India you will see how they treat people.
In Tanzania we don't lynch people because of their religious beliefs, Christians, Muslims and other live in peace. You can get a job whether you are light skinned or dark skinned.

tylann:
Good lord .

Have you ever heard of space tourism
Space exploration helps in improving quality of education by encouraging research
Space themes can be used to improve skills of students in science , mathematics , engineering etc
Space technology is very useful in the mining sector


One question real quick does tanzania have schools

So Tourism in India have been strengthened by space science?
Do you think France receives many tourists because of your space science.
Education sector is made up of educational institutions like Schools, colleges, universities etc. Science is a knowledge, and strong education sector provide good knowledge. Researches are fruits of strong education sector. You can not have space science researches with disorganized, low funded and Education sector with no good policy.
How is it strengthen mining sector? Do you even ever study about mining sector. Go ask miners if they need space science to strengthen their sector.

nemesis8u:
Why so much insecurity regarding your own country.

Anyways no problem I understand.

According to u ur Africa when it is against India.
So u will drag all 54 African countries along with u , weather they want it or not ?

Good luck with that in real life

Ur funny man , I like u

He is from Ghana. What's your facts?

tylann:
Acadavah are you mentally re.traded ?

How can it strengthen mining sector?
How education sector?
How tourism sector?

tylann:
Kenya's is among the biggest investors in Tanzania

That is transmission of capital. [Capital export]

Jonraid:
IT, manufacturing,mining, transport, tourism, education and a lot more!

Space science and mining?Tourism?Education sector? That's so irrelevant.

Jonraid:
And space science doesn't strengthen other sectors? Wow!

Like which sectors?

gallivant:
Tanzania and Kenya and even SA are not ahead of India. United maybe but alone you don't stand a chance. But before we fight as Africans we need to trade together. Tanzania should allow Kenyan companies free trade with low taxes if they want our help to fight India! Free trade and movement of peoples or nothing!!

So what will you sell to us? Flowers and Avocado?

tylann:
Kq is the majority shareholder

How when it has 41% of shares while there is a man who has 42%.

gallivant:
Landrover is owned by Tata motors just like Precision Air is owned by KQ.

Precision air is owned by Michael Shirima and Jaguar Land rover is a British company owned by TATA motors since 2008 and that doesn't make it Indian company.

gallivant:
Who owns Precision Air and Jambojet? Aren't they bigger Air Mzembe?

Precision air was established by Michael Shirima a Tanzanian and been owned privately by him until 2003 when kenyan airways acquired 49% shares. Precision air is a Tanzanian company like Landrover is a British company.

gallivant:
Lol

Just like Nigerians they eat every animal, bird and reptiles. Freaking savages!

This face show what people in Kenya truly eat. Pure Reptilian guy.

tylann:
I don't know
Tell me how

This