Bob Collymore: We’ll not adjust our prices
Safaricom Chief Executive Officer Bob Collymore says his company will not adjust its prices.
This follows a move by rival Airtel to cut its price to other networks to just Sh2 a minute. Safaricom charges Sh4 a minute.
Airtel says the new tariff amounted to a 50 per cent reduction in prices.
“We are not going to move our prices. If we lose market share as a result of that then that is fine. We have to maintain a sustainable business,” said Mr Collymore.
He pointed out that Safaricom is focused on investing in infrastructure rather than fighting to shrink their own revenue.
“Our competitors drop their prices… This results in low returns which then means that they don’t have the revenue to innovate,” he said.
Mr Collymore maintained the company would rather offer better services to its consumers than lock horns with competitors in a price war.
Collymore, who returned to work this week after a nine-month medical leave, said he had battled acute myeloid leukaemia, a type of cancer that inhibits white blood cell production, and the cancer had gone into remission.