Safaricom subscriber numbers on record may not reflect the actual situation on the ground.

According to the CEO Bob Collymore, the company conducted investigations on a scam following a situation where the number of subscribers was seen to soar with no corresponding changes in revenue! The dealers, Phones U Like, Zertot and Telesoft, were pre-activating new lines by loading airtime and claiming the commission, normally KES350 (US$4.05) after purchasing the lines for KES100.

As a result of this development, Collymore fears the subscriber numbers on record may not reflect the actual situation on the ground. The company has therefore restructured the way in which the dealers will be paid in future. From now on the dealers will only be paid on condition that the sold lines are on usage.

Ref: http://allafrica.com/stories/201103140343.html

I wonder the extent to which cooked figures impact on investment decisions on the NSE??

Kweli things are thick.When you hear rumors of a KACC push jua iko kitu.

Heeee kweli Safaricom needs a reorganization.

This fraud clearly shows the 'good times' for the dealers are a thing of the past due to low prices. Getting too creative for their own good.

This is a realistic situation given the current competition environment being felt in this industry.

Some of the employees are complaining yet they are the causes of the problems while some are truly innocent. Trust kenyans na mpango wa kando.

This level of honesty is definitely good for any organisation!
A CEO who admits when things are not right is a gem. The sky is the limit for Bob and Safaricom share prices.. watch this space by Friday!