Safaricom share hits record high on Addis permit

Safaricom headquarters on Nairobi’s Waiyaki Way. PHOTO | DIANA NGILA

Safaricom #ticker:SCOM shareholders’ paper wealth rose by Sh90.1 billion yesterday as investors rushed to buy the company’s shares after it was awarded a licence to enter Ethiopia’s underserved telecoms market.

It marks one of the largest one-day gains on a single stock in the history of the Nairobi Securities Exchange (NSE).

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Note: The results are not exact but very close to the actual.