Safaricom owns several companies which it uses to boost its bottom line while also providing certain services. Most of the companies, except one, it holds 100 per cent shareholding. For some, the company are subsidiaries of other companies Safaricom owns.
The companies are One Communications Limited, Instaconnect Limited, Packet Stream Data Networks Limited, Safaricom Money Transfer Services Limited, East Africa Tower Company Limited and IGO Wireless Limited.
One Communication Limited provides data communication services in Kenya. The company offers fixed broadband wireless Internet services. It also handles data security, disaster recovery, and business continuity services.
Packet Stream Data Networks Limited provides data communication services, which includes worldwide interoperability for microwave access services and fixed WiMAX access services. The company was incorporated in 2003. Safaricom acquired the company in 2009.
Safaricom Money Transfer Services Limited is licensed by the Central Bank of Kenya as a money remittance provider. The license was issues on 3rd December 2014.
East Africa Tower Company Limited was a wholly owned subsidiary of Essar Telecom Kenya Limited and was acquired in September 2014. As part of the larger acquisition of Essar Telecom assets, Safaricom acquired it at Sh88 million ($1 million). East Africa Tower Company managed all the sites and base stations of Essar Telecom.
From November 2010, Safaricom took control of IGO Wireless Limited. The company engages in the distribution of structured cabling systems, rack systems, cable tray systems, data centre infrastructure, and routing and Internet security software solutions in East Africa. It offers quick heal security software, cabinets, and D-link cabling systems. The company also offers consultancy, network design, tender support, and warranty support services. It serves corporate and government departments in Kenya.
Comtec Integration Systems Limited, Comtec Training and Management Services Limited and Flexible Bandwidth Services Limited are wholly owned by One Communications Limited which is wholly owned by Safaricom. The total value as at March 2015 stood at sh741,941,000.
Comtec Group (2007) Limited, a locally owned company, was initially registered as Thige and Associates Consulting Engineers Ltd in 1982. The primary business was Electrical Engineering and Telecommunications consultancy services. In 1988 the company re-branded itself to become Communication Technologies Ltd (Comtec).
Comtec Integration Systems Ltd (CIS) as an enterprise market system integrator and network support center while Comtec Training & Management Services Ltd (CTMS) focused on provision of in-house and clients training while at the same time offering centralized administrative support to the business units.
The Flexible Bandwidth Service family includes three categories of services: – Flexible Bandwidth Service, Flexible Bandwidth Service GE Flex and Flexible Bandwidth Service T1/E1/T3 and STM-1/4/16/64. It is a basic bandwidth building block for advanced networking applications with different upgrade options open to customers.
The total value of the assets as at 31st March 2015 stood at sh837,341,000. This was an increase from the previous year when it stood at sh745,891,000. During the period under review, some of the entities had either not transacted or been valuated as the annual report did not indicate their value. This are Packet Stream Data Networks Limited and IGO Wireless Limited.
The company also owns 32.5 per cent of The East African Marines Systems Limited (TEAMS). TEAMS derives its revenues from the provision of submarine fibre optic cable system. As at 31 March 2015, the company had total current assets of sh548,538,000. Its liabilities were sh173,410,000 while net assets were sh26,017,000. The value of the net assets is lower than the previous year (2014) which stood at sh64,874,000.
All the companies and subsidiaries are incorporated in Kenya.
Thanks for this, where is this information from?
They are on the Financial report for 2016. Sorry for the late response.