Safaricom shares at the Nairobi Securities Exchange (NSE) yesterday touched an all-time high of KSh15.30 as the indicative 20-share index inched closer to the 5,500 points. Analysts attribute the rise in Safaricom to high foreign investor interests.
With the index gaining 27.7 points in Thursday’s trading to close at 5473.8, Safaricom took the lion share followed closely by East African Breweries Limited (EABL).
The communications services provider has been diversifying its communication market by venturing in smart brands such as installation of security surveillance system as well as running electronic fertiliser subsidy management system. The company has also marvelled in Lipa na M-Pesa which allows customers to pay bills using till numbers. Besides, Safaricom has stakes in cash-light pay card My 1963 owned by Fiber Space Limited.
Last week, EABL announced an 11% growth in profit to stand at Ksh4.6billion. Other companies trading at year highs were Jubilee Holdings and Standard Chartered Bank registering Ksh540 and Kshs350 respectively.
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