Safaricom co-op to diversify income streams

The co-operative targets to raise 40 percent of its 2020 revenue from the new businesses. FILE PHOTO | NMG

Safaricom Investment Co-operative (SIC) is set to diversify its revenue streams to strengthen its balance sheet in the wake of reducing returns from the real estate sector last year.

SIC is planning to venture into property agency business, manufacturing, ballast mining, healthcare and financial services sectors starting March. The co-operative targets to raise 40 percent of its 2020 revenue from the new businesses.

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