May 19, 2020

Kenyan Treasury set to receive Sh40bn from Safaricom

2 min
Kenyan Treasury set to receive Sh40bn from Safaricom

Kenya’s Treasury is anticipated to receive Sh40bn (US$398mn) from Safaricom, the telecommunications company.

The governmental department is set to accept the most financing from the firm’s pre-tax profit, obtain half of Safaricom’s Sh80bn ($796mn).

The money will be paid in taxes and dividends for the financial year ending 31 March 2018.

The calculations mark the largest amount the Treasury in Kenya has received from a single corporation.

Safaricom made a 14.1% increase in net profit during the review period, reaching Sh55.2bn ($550.5mn).

The company also noted a growth in its total revenue of 9.8%, hitting Sh233.7bn ($2.3bn) – setting a new record for Kenya.


The firm has paid Sh24.62bn ($245mn) in taxes during the financial year, its records show.

M-Pesa, Safaricom’s mobile data subsidiary, is thought to have driven the growth.

“M-Pesa and mobile data continued to be the drivers of growth in the year,” stated Sateesh Kamath, Chief Financial Officer of Safaricom.

“Contrary to global trends, voice revenues also grew. We also recorded revenue growth in fixed data, a relatively new business, which is already accounting for three per cent of our service revenue.”

“We continue to invest a significant portion of our capital expenditure (capex) to enhance the data capabilities in the network.”

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Jun 14, 2021

5 minutes with... Janthana Kaenprakhamroy, CEO, Tapoly

Kate Birch
3 min
Heading up Europe’s first on-demand insurance platform for the gig economy, Janthana Kaenprakhamroy is winning awards and leading with diversity

Founder and CEO of award-winning insurtech firm Tapoly, Janthana Kaenprakhamroy heads up Europe’s first on-demand insurance platform for the gig economy, winning industry awards, innovating in the digital insurance space, and leading with inclusivity.

Here, Business Chief talks to Janthana about her leadership style and skills. 

What do you do, in a nutshell?

I’m founder and CEO of Tapoly, a digital MGA providing a full stack of commercial lines insurance specifically for SMEs and freelancers, as well as a SaaS solution to connect insurers with their distribution partners. We build bespoke, end-to-end platforms encompassing the whole customer journey, but can also integrate our APIs within existing systems. We were proud to win Insurance Provider of the Year at the British Small Business Awards 2018 and receive silver in the Insurtech category at the Efma & Accenture Innovation in Insurance Awards 2019.

How would you describe your leadership style?

I try to be as inclusive a leader as possible. I’m committed to creating space for everyone to shine. Many of the roles at Tapoly are performed by women and I speak at industry events to encourage more people to get involved in insurance/insurtech. Similarly, I always try to maintain a growth mindset. I think it’s important to retain values to support learning and development, like reliability, working hard and punctuality.

What’s the best leadership advice you’ve received?

Build your network and seek advice. As a leader, you need smart people around you to help you grow your business. It’s not about personally being the best, but being able to find resources and get help where needed.

How do you see leadership changing in a COVID world?

I think the pandemic has proven the importance of inclusive leadership so that everyone feels supported and valued. It’s also shown the importance of being flexible as a leader. We’ve had to remain adaptable to continue delivering high levels of customer service. This flexibility has also been important when supporting employees as everyone has had individual pressures to deal with during this time. Leaders should continue to embed this flexibility within their organisations moving forward.

They say ‘from every crisis comes opportunity’, what opportunities do you see?

The past year has been challenging, but it has also proven the importance of digital transformation in insurance. When working from home was required, it was much harder for insurers to adjust who had not embedded technology within their operating processes because they did not have data stored in the cloud and it caused communication delays with concerned customers at a time when this communication should have been a priority, which ultimately impacts the level of customer satisfaction. This demonstrates the importance of what we are trying to achieve at Tapoly in driving digitalisation in insurance and making communication between insurers and distribution partners seamless. 

What advice would you give to your younger self just starting out in the industry?

Start sooner, don’t be afraid to take (calculated) risks and make sure you raise enough money to get you through the initial seed stage.


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