The Treasury’s stake in Telkom Kenya dropped to 30 per cent in December after it failed to inject Sh2.4 billion in the firm, but has option to return its stake to 40 per cent by June.
From this story, I 100% support the government's decision to raise the ownership along improved performance by the telco.
I will tell you why:
April last year, after the onset of long rains, my two landlines went dead. We called and i even wrote on this list about this problem. I understand close to 3000 lines went down at the same time around Loita Street and very few if any have even returned to service. Our lines are still out of service.
Simple maths, if each of the lines was making Telkom KES. 10,000 a month, we can easily claim that Telkom has lost more than KES 240 million in revenue (240,000,000), where only they can compete from this small group of customers in 2012.
The Telkom officer who was responding to my complaint last year thought i was being skeptical. I wonder where Telkom will be in 10 year with this France Telecom?
Muthoni