Safaricom buys 51% stake in One Communication Limited

Safaricom has acquired Once Communication for 180 million Kenyan shillings (US$2.7 million). This comes a week after France Telecom rebranded its subsidiary, Telkom Kenya, and unveiled a new product range.

Business Daily reports, that the bagging of a 51 per cent stake announces the company’s intentions to raise its profile in the data services sector where rival Telkom Kenya, now a subsidiary of France Telecom, last week unveiled new products.

The move is equally strategic in that the data sector is hugely untapped with only two per cent of the potential market served currently, implying vast growth and earnings for players who get the quality, speed and pricing right.

ITNewsAfrica.com