Safaricom hits $11.7bn value in New Year rally

Safaricom Limited's headquarters, Nairobi. The company’s stock has risen 10 per cent in the first two weeks of the year to Tuesday’s average closing price of Ksh29 ($0.28), adding to the 40 per cent it gained in 2017. PHOTO FILE | NMG

Safaricom shares have rallied to an all-time high, nearly touching the Ksh30 ($0.29) mark in Tuesday's trading, which values the telecommunications company at a whopping Ksh1.2 trillion ($11.7 billion).

The company’s stock has risen 10 per cent in the first two weeks of the year to Tuesday’s average closing price of Ksh29 ($0.28), adding to the 40 per cent it gained in 2017.