I sold my Safaricom shares
But only after giving up on the company prospects in the mid-term. In my view, so much has changed since June 2010. Don't get me wrong, it was not perfect then, but the trajectory was very reassuring:
- One of the most results oriented, driven CEOs ruled the helm
- Innovation backed by huge bets was the main stay of the company
- Insiders say the company was just more nimble on its feet, things happened faster
- Company spent less on operating costs (payroll, marketing etc) as percentage of revenue
I dread to compare the anticipated half-year results against prior period. The elephant is ailing yet the industry is in a period of drought.
I could adversely compare net income margin, revenue per employee, bottom line contribution of retail shops & fixed Data, share of voice .... But to cut a long story short, the June 2010 Safaricom was an army, and the modern day Safaricom is a social movement!