The value of Safaricom at the Nairobi bourse has dipped below the Ksh1 trillion (about $8.2 billion) mark on foreign investors’ flight in the wake of rate hikes in the US. PHOTO | FILE
The value of Safaricom at the Nairobi bourse has dipped below the Ksh1 trillion (about $8.2 billion) mark on foreign investors’ flight in the wake of rate hikes in the US.
The telco was yesterday valued at Ksh979.60 billion ($8.1 billion) after its share price dipped to Ksh24.45 ($0.20) from a high of Ksh38.15 ($0.32) at the start of the year, translating to a paper loss of Ksh548.9 billion ($4.5 billion) over the period.
