Githeri media.

I think they are raising valid concerns

If they outperform EPS for FY2018 will come at 1.4...buying at 32...PE is around 23...in FY2019 if they outperform EPS will be circa 1.6 for a PE of 20 at 32 and most likely a dividend yield of 4%...buying now is mere speculation...any negative sentiment on this counter will send a portfolio reeling in losses.

1. That's during MPESA's boom period...

2. Under negative sentiment environment...rolling/forward PE can drop below 20..overall paying 22X a firms earnings is not shrewd investing.
3. Highly doubt EPS of 1.4 will come next month...lets bet...I will send you a six pack of Windhoek Lager if it happens

mimi na agali tu volume. citi can keep their bs to themselves......

On the contrary, mpesa is being rolled out to Africa and the world. Think out of the pond.

Mr Amos Kimunya and 2008 IPO handlers are to blame for this overvaluation situation.Ten years later and the scenerio is the same.
They created 40 billion shares at kshs 5 each.These were too much.
The only way out here is safaricom conpany to buy back some shares.

Penetrationwise, Safaricom has pretty much exhausted that avenue for growth and now has to rely on the 800,000 students who finish highschool every year and come out of boarding school to be active customers.
They just need to start increasing their ARPU especially in data. Last year mobile data stood at around Ksh150 per month per customer. If they can double this then it will be a significant contribution. Mpesa its just 240 per customer. Their C2B, B2C, B2B and LNM still command a tiny share of the revenue so still so much room for growth despite competition. Cash transactions are still king.
Their new business Safaricom home fibre is still in early adoption stages so it will be significant once they scale it up. For every 100,000 active customers they should make at least Ksh3 billion. The total market of homes connected to power is 6 million and growing. Currently Zuku and technology advancement is the only threat for that model. Safaricom is known for early adoption and 5G might be their solution to connecting more homes with their internet enable set top box. There wont be need for cable connections.
Masoko wont be profitable in the near future or rather contribute anything significant. Even Songa may not be. Worldwide, music streaming platforms make losses because of the high fees they pay.
When it comes to the money side of the business, Safaricom is VERY CASH RICH. One of their biggest cost is depreciation which stands at Ksh33 billion a year. That is a non cash expense. So they always have a lot of money to re-invest (ksh35billion) in the business and still pay shareholders a very high dividend (ksh30 billion last year excluding the ksh27 billion special dividend). This is a company guaranteed to pay dividends at a competitive level for the next number of years.
I think its still a buy now (more of buy as much as you can now) then reduce its share of your purchase as years go by.

One thing about Telkom is they have a limited capital to invest. People are so used to quality service provided by Safcom, so a mass migration to Telkom only makes it worse for their reputation since it strains their services. T Kash, they will have to spend billions in marketing. They dont have that so Mpesa will still be king for a while.
I agree Safaricom need to lower their bundle prices, or better yet bring back 4G bundles. I think so far, the effect isnt much so they see no need. 5G will be a game changer and a telco will need a vast network to utilize it well. Safcom is the only one with the potential and they have began research yet the likes of Telkom havnt even paid for their 4G license.
Given our choices at the NSE, only banks are as consistent as Safaricom