Safaricom of Kenya Rises Most in 3 Weeks on Higher Revenue Bets

Safaricom Ltd. (SAFCOM), East Africa’s biggest mobile-phone company, rose the most in more than three weeks, on speculation the company increased revenue from data services in the first half.

The stock gained 3.5 percent to 3 shillings by 11:39 a.m. in Nairobi, the biggest advance since Oct. 11. Safaricom will announce its earnings for the six months through September on Nov. 9, the company said yesterday.

“We are expecting good results out of the company,” Amos Odero, a senior equities dealer at Nairobi-based Genghis Capital Ltd., said by phone today. “Subscribers numbers are up and things are looking positive on the data side.”

To contact the reporters on this story: Sarah McGregor in Nairobi at smcgregor5@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.