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Safaricom bank debt 5 times higher in H1, plans to convert some short-term debt to longer term facilities

Tuesday 16 November 2021 | 14:47 CET | News
Kenyan operator Safaricom's bank borrowings rose to a record KES 76.9 billion in the half-year ended September as the company raised funds to pay for its Ethiopian licence, besides investing in its operations, Business Daily reported. Its debt increased 5.2 times from KES 14.7 billion a year earlier. Safaricom noted that it held cash and cash equivalents of KES 26.4 billion in the review period, putting its net debt at KES 50.5 billion.

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Categories: Mobile & Wireless
Companies: Safaricom / Vodacom / Vodafone
Countries: Kenya
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