Safaricom has announced a change of name in accordance with Section 53 of the Companies Act, 2015 and in line with the approval granted by the company’s shareholders during the Annual General Meeting (AGM) on September 15, 2017, and with the change of name certificate issued by the Registrar of Companies. Therefore, Safaricom Limited will now be known as Safaricom Plc.
“All contractual relationships and obligations that the company has with its customers, partners, and other stakeholders are not affected by this change of name,” the notice explains.
Section 53 of the Companies Act, 2015 states:
“A company that is both a limited company and a public company may only be registered with a name that ends with the words “public limited company” or the abbreviation plc.”
According to the Act, a company can be referred to as a public company if:
“Its articles allow its members the right to transfer their shares in the company, its articles do not prohibit invitations to the public to subscribe for shares or debentures of the company, and its certificate of incorporation states that it is a public company.”