Safaricom plans $94m fibre investment
Kenyan mobile network operator Safaricom will spend $94.8 million to install 2,300 kilometres of fibre-optic cable over the next four years to help serve its growing customer base, reports Reuters quoting CEO Bob Collymore. Vodafone holds a 40% stake in Safaricom, which has 19.1 million subscribers in Kenya, a 67% market share.
Collymore said the operator would fund the investment internally. Collymore added that the company already has 600 kilometres of fibre, while addition of another 800 kilometres will start from November and is expected to conclude within 18 months.
Collymore said: “In the next three years, we will be working on extending the footprint by up to 500 kilometres a year. With future demand for higher bandwidth, the expansion will continue in the future.”
Kenya saw the number of mobile subscribers increase by 16% in the first quarter of 2012 compared with the same period of 2011 to 29 million