Tag: safaricom

Zuku back on top reclaiming fixed internet spot from Safaricom

Zuku back on top reclaiming fixed internet spot from Safaricom

Broadband, Business
Fixed internet connections in Kenya crossed the 500,000 mark for the first time in the quarter ending 31 December 2019 boosted by growth of the major service providers. Overall, the total number of customers of fixed internet connections rose by 10% from 454,840 in September 2019 to 500,888 as at December 2019. ZUKU reclaimed top spot from Safaricom Home Fibre by adding 23,885 new subscribers to end the period with 175,433 connections. Meanwhile, Safaricom added 11,207 new subscriptions to bring their total to 165,810 connections. This now means that Zuku has a 35 percent market share compared to Safaricom’s 33.1 percent. Jamii Telecommunication’s is third with 17.1 percent market share. Source: Communications Authority Safaricom had overtaken Zuku for the first time in Q1 2019
Peter Ndegwa takes over as CEO at Safaricom succeeding Bob Collymore

Peter Ndegwa takes over as CEO at Safaricom succeeding Bob Collymore

Broadband, Business, Technology
Peter Ndegwa is Wednesday set to take over as Chief Executive Officer at Safaricom to succeed Bob Collymore, who died of cancer on July 1, last year, a move that will make him the first Kenyan to run the giant telco. He will be taking over from founding CEO Michael Joseph, who has been holding the position in an acting capacity since. Mr Ndegwa, an alumnus of Starehe Boys Centre and former East African Breweries finance director, will be betting on M-Pesa, data business and Safaricom’s likely entry into Ethiopia to shape the leading telephone services company’s growth in profitability. The 51-year-old incoming CEO takes the reins at a time when businesses have been hard hit by the coronavirus global pandemic, meaning that he might have to work from home on his first

Safaricom Foundation Launches $500K Tech for Good Fund

Internet, Mobile
Safaricom has set aside Ksh 5om ($500,000) social entrepreneurs out there but to the many who still believe in welfare, this is a great move for them as Safaricom Foundation announces a Ksh 50m fund for social entreprises. VC and PE firms see entrepreneurship as business and every business should make a dime of whatever service it offers. Like economists of the old and markets, VC’s see startups as business that should be left alone to meet demand with their own supply. Innovation has to solve a problem and people have to be willing to pay for that solution if it’s really fitting. Safaricom says the Sh50 million Technology for Good Fund will empower young innovators with the potential to deliver significant and impactful solutions that leverage mobile technologies. “Our overall aim is t
Battle for the mobile money market share, Kenya’s Equity Bank launches Equitel to compete with Mpesa

Battle for the mobile money market share, Kenya’s Equity Bank launches Equitel to compete with Mpesa

Business, Mobile
Equity Bank has acquired a licence to operate a mobile-phone service in conjunction with Airtel, Equitel. Equity Bank is another Kenyan success story, revolutionised local finance in the past decade by slashing fees and helping to bring the poor into the banking sector; the number of accounts rose from around 2.5m in 2005 to more than 20m in 2013 (in a population of 44m). On July 15th their joint venture, Equitel, will launch a service that uses “thin SIMs”, plastic sheets embedded with microchips that slip over the top of a standard SIM card and let the user switch between operators easily. This makes it more likely they will try, and perhaps eventually migrate to, Safaricom’s new rival. Equitel is aiming for 5m users by the end of the year, compared with Safaricom’s 23m. Safaricom is

Bitcoin Challenge: Companies Tackling The African Market

Business, Mobile
Bitcoin adoption in Africa faces a unique struggle not found in any other market. Rare factors that both help and hurt the digital currencies adoption come into play in just about every country on the dark continent. There are a range of factors that may help drive Bitcoin adoption in Africa; Local banking appears to be of little use in some areas of the continent, with only 2% of firms in Nigeria using banks to finance investment; Government fiat currencies are often unstable, Zimbabwe abandoned their national currency all together in 2009; And legacy remittance services charge fees that are among the highest in the world, with sub-saharan Africa rates costing 10% on average. Not only does this sound like an ideal breeding ground for bitcoin disruption, 85% of Africans already have cellph

Safaricom withdraws decision to terminate post-pay tariff

Business, Internet, Mobile
In Summary Rather than cancel the tariffs, Safaricom says it will either increase the cost of each bundle or decrease its size at the current rates to maintain its customers while ensuring profitability. The telecoms firm last year announced that the tariff would be shelved as it was loss-making. The Karibu post-paid tariff currently has two price plans; customers pay either Sh1,000 or Sh2,500 per month for a mix of talk time, text messages and data bundles. Safaricom has hinted that it will only revise terms of use for its Karibu post-paid tariff, offering reprieve to more than 100,000 subscribers who were braced for termination of the service. Reports Mugambi Mutegi  of nationmedia.com The telecoms firm last year stopped taking applications from new subscribers and annou

Safaricom launches 4G network ahead of its rivals

Broadband, Business
In Summary Safaricom has launched a high-speed wireless Internet network that is initially available on Mombasa Island and in parts of Nairobi such as Gigiri, Runda, Buru Buru, Parklands and Kabete. The launch of the 4G technology comes on the heels of last week’s signing of a Sh14.9 billion national security communication contract between Safaricom and the National Treasury. The firm has been seeking to cut reliance on voice revenue, whose growth has nearly flattened out in recent years due to falling rates. Safaricom is betting big on the home internet market segment with the launch of an advanced fourth generation (4G) long term evolution technology to drive its data services. The integrated telecoms services provider Thursday launched a high-speed wireless Internet ne

‘Thin SIMs’ set to transform African mobile money

Business, Internet, Mobile
Kenya’s mobile money industry could undergo a serious shakeup thanks to new technology. A Kenyan bank is rolling out its own mobile network using a new paper-thin SIM card that sits on top of an ordinary SIM. But industry leader Safaricom says thin SIMs could lead to data theft and fraud. Reports Hilary Heuler on HowweMadeitinAfrica For years mobile money, perhaps Kenya’s most successful invention, has been transforming the way Africans do business and send money home. The service was launched by Kenyan mobile operator Safaricom, and in Kenya, Safaricom’s M-Pesa enjoys a near-monopoly when it comes to transferring money via mobile phones. But now the company could be facing its first serious challenge, in the form of a new technology that threatens to upend the mobile money sector.

Kenya’s Equity Bank Determined to Challenge MPesa Monopoly with Thin Sims

Business, Mobile
In a move that’s set to revolutionize mobile money in Kenya and change the status quo of Kenya mobile money kings, Equity Bank through it’s supplier Taisys announced it will be issuing a ultra-thin mobile banking smart SIM. Reports techmoran.com Though it has been bone a long journey to these baby steps, Equity Bank will begin issuing the thin SIMs to its customers to transfer funds, do micro-payments and other mobile financial services using Taisys’s “mBanking” and “duoSIM”technology. Though approved by Communications Authority of Kenya, Equity Bank’s Finserve Africa or Equitel to the public, the ultra-thin smart SIM – duoSIM – which are to be directly attached the surface of an existing telco-issued SIM, and placed into the mobile device have raised questions on the safety of the peopl

Safaricom Vs Equity Bank: May the best telco win, says Uhuru Kenyatta at the 6th East African Business Summit in Kigali

Business, Mobile
President Uhuru Kenyatta on Thursday said he declined to be drawn into the battle between Safaricom and Equity Bank over use of thin SIM card, instead urged those lobbying him to allow competition to drive the market. Reports Nation Media Addressing business leaders during the 6th East African Business Summit in Kigali, Mr Kenyatta said there is a greater need to allow rivalry in order to deepen mobile money transfer saying this will increase benefits to users. Cheaper and better products “Some people came to me to say that licensing this or that will have consequences but I told them the competition between the firms including that of my friend Bob Collymore (Safaricom chief executive officer) is good for the market. Let them (Equity and Safaricom) fight out. All we want is