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Vodafone's Kenya Unit Hits Out at `Stupid' Plan to Curb Size

  • Safaricom should split into wireless, banking units: Lawmaker
  • Kenya’s largest company awaits regulator report into dominance

Safaricom Ltd. said any move to split Kenya’s biggest company into separate mobile-phone and banking businesses would be “plain stupid,” curbing job creation and growth in East Africa’s largest economy.

“The economies of Africa need more big players,” Chief Executive Officer Bob Collymore told reporters in Nairobi, the capital, on Wednesday. “We don’t believe anything we do today is anti-competitive. We don’t believe dominance is a crime.”