The share price of telecommunications giant; Safaricom hit a new record high on Thursday the 14th of January 2021. The increase is as a result of a higher demand by foreign investors, which in turn increased Safaricom’s value at the Nairobi bourse by more than 60 percent of the market’s total capitalization.
Safaricom’s share price closed at 36.50 Kenyan Shillings after reaching an intra-day trading price of 37 Kenyan Shillings. The boost also helped Safaricom’s paper value at the Nairobi Securities Exchange increase to an impressive 1.462 trillion Kenyan Shillings and 2.431 trillion Kenyan Shillings at the end of business on Thursday the 14th of January 2021.
Investors at Safaricom have achieved 90.55 billion Kenyan Shillings in wealth, on year to date. The Nairobi Securities Exchange stated that, “Safaricom continued to excite the market touching an all-time high of Sh37.0 before easing down to close at Sh36.50 with shares worth Sh305 million transacted, this represented 66.06 of the day’s traded value.”
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