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Treasury gets Sh40bn Safaricom pay cheque
From left, Safaricom board chair Michael Joseph, director corporate affairs Steve Chege and director, technical & I.T Thibaud Rerolle during the company's full year investor briefing on May 9, 2018. PHOTO | DIANA NGILA | NMG
The Treasury has emerged as the biggest beneficiary of Safaricom’s #ticker:SCOM runaway profitability, with initial calculations showing it will walk away with half of the Sh80 billion pre-tax profit that the telecoms operator made.
The telecoms operator is set to pay the Treasury Sh40 billion in taxes and dividends for the financial year ended March 2018, setting a new record in the amount of money a single corporation has contributed to the Exchequer in Kenya.
