Safaricom says it does not plan to slash its tariffs to woo more customers.
Safaricom chief Bob Collymore has said the company it will stick with its current tariffs despite the loss in customer numbers. He further added that the company will soon roll-out new security features to deal with Sim swap fraud.
Airtel and Telkom the country’s 2nd and 3rd biggest telecom companies have been forced to slash their tariffs to win more subscribers.
The Communications authority quarterly 1 report for 2018 shows that Safaricom’s market share shrunk by 2.1 percentage points from 69.1 per cent posted in the previous quarter to 67 percent.
The company also registered a six percentage point’s drop in its market shares for mobile voice traffic to stand at 66.5 per cent during the quarter.
The biggest winners were rivals Airtel gained 2.5 percentage points raising its market share to 19.7 per cent with 8.7 million subscribers.
On the other hand Telkom Kenya also lost 55 thousand subscribers to see its market share reduced to 8.6 percent. The two companies have launched an aggressive subscriber drive by lowering their calling and data rates.
This week, Airtel raised the bar by slashing its call rates by 50 percent.
Safaricom chief bob Collymore has said the prevailing price wars will only hurt the market by curtailing their infrastructure development.
Calling rates are currently pegged at 4 shillings by the market regulator, but players are at liberty to set their rates without going above the 4 shillings ceiling.
Collymore has also said the company is developing a new fingerprint and voice recognition system to prevent Sim swap fraud. Bob Collymore returned to the helm of Safaricom last week after nine months sick off due to cancer related complications.