The sooner safcom agrees they are in a life thretening position the sooner they can do something about it.

In last year’s Financial Statement notes there was this statement on going concern

(iii) Critical judgment on going concern - (page 52 of their annual report)
The Group’s current liabilities exceed its current assets by Shs 11,249,325,000 (2009: Shs 18,258,138,000) at the balance sheet date. This position is expected to remain a net liability in the near future. However, the Group continues to grow its revenue and to generate sufficient cash to meet its obligations as they arise and in line with the long term plans of the business. Management reviews the cash forecast monthly and determines its cash requirements.

The principle assumption is the increase of revenues. Now how possible is this.
Companies dont close cause they are not making profits, they close cause they run out of cash. Their current liabilities catch up with them.

Did saf see this coming really? Sigh!

Translating to 83% drop!!!!!!!!Those are scary figures..

But this SCOM downfall is coming closer home when the jobs of family and friends are on the line and only last year they received mega bonuses!!!

I agree with Pablo

History has shown that the last people to believe a company is in trouble are employees.

Even Enron employees were buying the company shares 30 minutes before the assessors entered their building and some 3 months after the whole world had been dumping the stocks.

Pablo is right. However, I think the management knows that there will be some serious adjustments ahead. But would you tell the employees that some will go home?

Their only hope is if Bharti Airtel crashes in India. It can happen. But don't hold your breath.

My friend is considering selling his safcom business. Sales have dropped over 60% so go figure.

Pole... Sina hisa za Safaricom... So I am not really into doing the numbers!

All I can say is that the Voice ARPU will drop by a huge margin in 2H thus severely impacting the PAT.

Data has grown phenomenally as as M-Pesa but I doubt they are enough to cover 'losses' in Voice profits.