Kenya’s most profitable company changes name to Safaricom PLC

Kenya’s most profitable company will now be referred to as Safaricom PLC, to comply with the Company’s Act.

In a notice to the public, the firm’s Secretary Kathryne Maundu said the telco will effective January 31 operate as Safaricom Plc.

“The approval to change the name was granted by the company’s shareholders during the Annual General meeting held on 15th September 2017,” she said.

While she was emphatic that the name change will not affect its operations, the company has lost its verified sign on Twitter as it changed its handle from @SafaricomLTD to @SafaricomPLC. Twitter rules state that a handle loses the verification badge if the username changes

“All contractual relationships and obligations that the company has with customers, partners and other stakeholders are not affected by this change of name”, the notice read.

The change was effected in compliance with Section 53 of the Companies Act, 2015 which says that a company that is both a limited company and public company may only be registered with a name that ends with the words “public limited company” or the abbreviation “plc”.

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