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Collymore raises stake with 300,000 shares purchase

Safaricom CEO Bob Collymore during the release of the telco’s full year results in May. PHOTO | SALATON NJAU | NMG
Safaricom CEO Bob Collymore during the release of the telco’s full year results in May. PHOTO | SALATON NJAU | NMG 

Safaricom #ticker:SCOM chief executive Bob Collymore has increased his stake in the telecommunications firm by buying 296,400 additional shares, the company’s latest annual report shows.

Mr Collymore purchased the shares worth about Sh7.48 million in the year to March, bringing his total stake to 1,518,600 shares worth about Sh38.3 million based on closing average price of Sh25.25 a piece on Thursday.

The CEO’s investment in Safaricom comes at a time when the firm’s stock has rallied at the Nairobi Securities Exchange. #ticker:NSE

The telco last month became the first listed company in Kenya to touch the Sh1-trillion mark in market valuation during trading, having gained steadily from the Sh19.25 price at the beginning of the year.

“Safaricom exists to fulfil a purpose. That purpose is to transform lives. We believe this is what drove over three million new customers to join our network during the year,” Mr Collymore says in the company’s latest annual report.

Nancy Macharia, an independent director, increased her shares by 27,000 to close the year at 70,000 which are currently valued at Sh1.76 million.

Sateesh Kamath, who has been Safaricom’s firm’s chief financial officer for a year, also bought 50,000 shares worth Sh1.26 million.

Nicholas Ng’ang’a, the telco’s chairman and former chief executive Michael Joseph did not increase their investment in the telco during the last financial year, maintaining their stakes at 855,100 and 1,178,600 shares respectively.

Their holdings are worth Sh21.6 million and Sh29.76 million respectively.

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