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General

Safaricom take KES 24.7 bln worth of loans as virus cuts into profit

Tuesday 10 November 2020 | 09:10 CET | News
Kenyan operator Safaricom borrowed additional short-term bank loans of KES 24.7 billion in the half year to September, when its net profit was hit by the removal of fees on M-Pesa transactions of up to KES 1,000, as well as the coronavirus crisis, Business Daily reported. KCB Group was one of the country's banks to provide the loans Safaricom used to fund its dividend payments and infrastructure investments.

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Categories: General
Companies: Safaricom
Countries: Kenya
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