Safaricom CEO Bob Collymore has said that his firm will not be compelled to reduce their calling rates after their close rivals Airtel reduced by 50%.
Bob Collymore who returned from a cancer treatment leave of 9 months, said that Safaricom will rather lose market share instead of cutting down their rates in bid of price war.
“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.
Airtel new calling rates went down to sh.2 per minute across all networks while Safaricom stands at sh.4 per minute.
“Our competitors drop their prices… This results in low returns which then means that they don’t have the revenue to innovate,” he said.
Bob Collymore who earns a staggering 16 million salary every month rather noted they would consider investing in other areas so as to maintain heir profit float.
The Seychelles born business mogul who married Kamiru Wanjiru was battling with acute myeloid leukaemia which was inhibiting production of his white blood cells, it had gone into remission.