Safaricom is 12 years old and the largest mobile company in terms of subscriber base that stands at 12 million (or 32 % of Kenya's population) and has just launched a service product that is surely spinning heads among its competitors.
The service Okoa Jahazi (English translation might mean Save my Day) that offers Ksh 50 (USD 0.625) airtime credit to its prepaid customers in situations when they cannot afford or access airtime. The credit is repayable within 72 hours on next purchase of airtime and is available to customers who have demonstrated use of their SIM for at least a year. But what makes it unique is the top up charge of Ksh 5 (USD 0.0625) which is 10% above what is "borrowed". With that sort of "interest" charged and looking at it 12 million subscriber base, it is being estimated that Safaricom will be making an additional profit of Ksh. 1.83 billion (USD 23 million) at the minimum in a year alone from this offer.
Let us wait and see how the balance sheet looks like at this time next year.
Source: http://www.eastandard.net/InsidePage.php?id=1144010907&catid=457&a=1
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