Tag: vodacom

Safaricom to target new liberalizing markets once it fully acquires MPesa from parent Vodafone

Safaricom to target new liberalizing markets once it fully acquires MPesa from parent Vodafone

Business, Internet, Mobile
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

Vodacom Tanzania signs deal for M-Pesa partnership

With East Africa continuing to push into the mobile money sector, Vodacom Tanzania announced it has inked a new agreement with the Tanzania Revenue Authority for an M-Pesa partnership. The announcement has been well received and is likely to spur further growth in the mobile money sector in the East African country. The new deal will allow vehicle owners to pay for licenses through the mobile money scheme, allowing business to move more smoothly and with ease, the company said. TRA Director of Tax Payers Services and Education, Richard Kayombo, said that M-Pesa “will go a long way in easing the purchase of vehicle road licenses.” Approximately $1.2-million in road license payments were transacted already in the first two weeks of the service. The furthering of mobile money sche

SA mobile money flop prompts new models

Local industry players are looking to other models for mobile money transfer solutions, amid the failure of these to take off in SA - in stark contrast to other African countries where the same services have thrived. Most notably, M-Pesa - launched as a partnership between SA’s first mobile operator Vodacom and then big four bank Nedbank, in August 2010, has struggled to gain traction and currently has only a few hundred-thousand users in SA. The service has been held back by legislation and the integration needed to move money from a bank account to an electronic wallet. On the contrary, Tanzania and Kenya - as well as the Middle East’s Afghanistan - have seen massive uptake of the same service, gaining more than 10 million customers, while SA is still sitting on a few hundred-thous