Kenyan operator Safaricom has disclosed a 50 percent ownership of M-Pesa after it and South Africa’s Vodacom acquired the mobile money platform from the UK’s Vodafone for KES 2.14 billion, Business Daily reported. In its annual report for the year to March, Safaricom says that the two partners split the acquisition costs equally, with each...
The value of money transactions via mobile has decreased by 36.7 billion Kenyan shillings ($ 344 million ) over the first 5 months of 2020. This situation primarily concerns the operator Safaricom telephony companies, whose market share in the sector is 99%. Money transactions via mobile phone are down 36.7 billion shillings ($ 344 million) in Kenya, we...
Mobile money agents and bulk paying merchant lines in Zimbabwe have been put out of business, while merchant accounts will only receive payments after the central bank softened a tough government directive that had completely banned mobile based monetary platforms and ordered that trade on Zimbabwe’s Stock Exchange (ZSE) be suspended until further notice. Zimbabwe...
In response to covid-19, the Central Bank of Kenya extended the suspension of fees on mobile money transactions by 6 months. This represents a forecast loss of $ 152.1 million for Safaricom. The leader in this business segment says it can handle this difficult time. The Central Bank of Kenya has decided to extend it by another...
Zimbabwe on Friday suspended trade on the stock exchange and mobile phone-based payments to address what President Emmerson Mnangagwa’s government called “criminality and economic sabotage”. The decision to suspend mobile payments will hit the economy hard as more than 80% of all transactions are conducted on phones due to a shortage of banknotes, according to central...
Mobile money payments in Zambia have grown to an annual average of 126% in value, from K2.07 billion in 2015 to K49.45 billion in 2019. This is according to the country’s Central Bank which confirms significant growth in digital financial services. Speaking at the launch of the Zambia digital economic diagnostic report, Central Bank governor...
MTN Congo has the wind in its sails. Each day that passes, she dreams only of innovations. Today, the prowess of MTN Congo has crossed national borders. This subsidiary of the South African Group, a multinational telecommunications company operating in 22 countries in Africa and the Middle East, is making progress in the business world. Despite the health...
Vodacom M-Pesa has expanded its international money transfer service portfolio to cover 200 countries. According to a statement released to the media, the mobile money service confirmed the development in Dar es Salaam, Tanzania during an event to mark an international day of family remittances. The event focused on the future of international remittance post-COVID-19....
Mukuru, one of Africa’s largest remittance providers, has announced a partnership with global online money transfer service WorldRemit to facilitate money transfers to Zimbabwe from across the globe.
Customers of the mobile operator Zain can now send money by mobile across East Africa and beyond from the Mobile Money M-Gurush service. Money can be sent in dollars or South Sudanese pounds. This new feature was officially launched during a ceremony chaired by the Governor of the Bank of South Sudan, Jamal Wani Abdalla. According to...
