Business Daily | by Victor Juma
Local individuals are being squeezed out of the ownership of Safaricom by foreign investors and local companies, reversing the government’s objective of boosting Kenyan retail investors’ stake in the country’s most profitable firm.
August regulatory filings show that domestic investors, including citizens of East African countries, now hold 1.5 billion units of the telco’s stock equivalent to a 3.8 percent stake.
This represents a 68.6 percent shrinkage from the 4.8 billion shares equivalent to…
