UPDATE 2-Kenya's Safaricom warns that higher taxes could hit demand [Reuters (UK)]
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Source: Reuters
UPDATE 2-Kenya's Safaricom warns that higher taxes could hit demand | Reuters 4 Min Read * M-Pesa and data services drive service revenue growth * Holds talks with government on impact of higher taxes * Shares head higher after the results (Rewrites throughout) By Duncan Miriri NAIROBI, Nov 2 (Reuters) - Kenya’s Safaricom Plc warned on Friday that steep increases in taxes on mobile telephone and mobile internet access services could slow its momentum in the second half. The company, part-owned by South Africa’s Vodacom and Britain’s Vodafone, said its core revenue for the first half to the end of September rose 7.7 percent to 118.21 billion shillings ($1.16 billion). The increase was driven by fast growth in its mobile financial services business M-Pesa and mobile data, as well as fixed internet access to homes and offices. Analysts said the growth in M-Pesa beat their forecasts. But the outlook for Kenya’s biggest mobile operator was clouded by taxes on its main services, which went
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