Safaricom, Airtel and Telkom Kenya will be required to split their telecommunications business from their mobile money transfer and lending units if a Bill set to be presented for debate in Parliament is passed into law. The Kenya Information and Communications (Amendment) Bill 2019, which is sponsored by Gem MP Elisha Odhiambo, is seeking to compel mobile phone companies to form separate arms to manage any other business they engage in outside telecommunications services. In a move that could complicate the business environment for the telcos, the Bill says they will have to apply for licences "from the respective regulators of any industry or sector ventured into". They will also be required to "legally split or separate the telecommunciations business from such other business. ...
Nairobi, Kenya – Jun 18 – Safaricom (NSE: SCOM) has today announced the availability of its “Reverse Call” feature enabling its more than 31 million customers to pay for calls for loved ones. The service enables a caller to transfer the cost of a call to the receiver by adding ‘#’ before the number they are calling. For instance, to transfer the cost of the call to 0722000000, a customer will dial #0722000000. “At Safaricom, we maintain our commitment to always provide our customers with relevant products in line with their needs. This innovation is in line with this commitment and has been tailored to mirror the relationships between our customers with a goal of empowering them to always remain connected with their loved ones,” said Sylvia Mulinge, Chief Customer Officer, Safaricom.
Safaricom is working on a joint venture with Vodacom Group to acquire the MPESA brand from Vodafone. The deal, when finalized, will cost the two companies $13.4 million. According to Collymore, acquiring the rights to MPESA will allow the partners to expand the platform’s footprint in Africa and develop more local products. “We are watching Ethiopia closely because as we see the liberalization of the markets, both the mobile payments market, the telecoms market and the banking sector, we think there could be opportunities,” Collymore said. Speaking to The Africa Report in February, Collymore had said a successor should be, “Someone who understands the financial sector a lot more, if we are to occupy the fintech space, and someone who is not going to be scared of going into other mark
In a new deal signed this Tuesday, Safaricom and Western Union have partnered to make cash transfers overseas easier for MPesa users at a cost between a minimum of Sh100 for a transaction of up to Sh5,000 and Sh500 for remitting offshore more than Sh35,000, Safaricom said. The partnership will see the more than 21 million of the globally-acclaimed mobile money service subscribers send a maximum of KES70,000 daily to family, friends and business partners abroad through the 500,000 plus Western Union’s agents in close to 200 countries. Western Union’s regional vice president for Southern, East and Anglophone West Africa Richard Malcom said, “This is real a game-changer, a first one in the world for us,” Mr Malcom said. “Kenyans who have children studying abroad can now send them money
Safaricom, PayPal and TransferTo have announced a collaboration on a new service that will allow movement of funds between M-PESA and PayPal accounts, a huge boost to international eCommerce. Qualifying M-PESA customers in Kenya can link their PayPal accounts to their M-PESA wallets, enabling them to easily and securely buy goods and services from merchants around the globe. In addition, M-PESA customers can still receive and withdraw money from more than 140,000 agents across the country. Similarly, the new will give Kenyan merchants the opportunity to boost their reach and grow their business internationally. “M-PESA’s collaboration with PayPal will open up global market places and the global economy to millions of Kenyan and Kenyan-based businesses and individuals. Beyond