Tag Archives: Safaricom
Safaricom: Latest News
Tom Jackson, 6:55 pm AFKI Original
Africa as a continent must do better with regards to cybersecurity. With cybercrime on the increase globally, and recent major attacks such as WannaCry, more must be done to secure cyberspace in the continent that has been especially poor at doing so. According to the recent 2017 Global Cybersecurity Index, only two countries on the continent – Mauritius and Egypt – are in the leading stage of demonstrating high commitment to cybersecurity.
Peter Pedroncelli, 5:14 am
SA telecommunications giant Vodacom’s minority shareholders voted in favor of plans to acquire a majority share in Kenya’s largest company, Safaricom. The shareholders voted at the telecoms company’s annual general meeting, with 99.59 percent voting in support of the resolution, while only 0.40 percent were against the acquisition. In May Vodacom proposed the purchase of a 34.94 percent indirect stake set to be bought from the Kenyan government.
Tom Jackson, 6:25 pm AFKI Original
Safaricom is future-proofing its business with innovative new products and an investment in a telecommunications lab, which will streamline innovation and testing at the Kenyan telecoms giant. It has been 10 years since Safaricom launched the M-Pesa mobile money service that is widely attributed to being the catalyst for Africa’s fintech ecosystem and having played a huge part in establishing the company as a market leader.
Peter Pedroncelli, 4:39 am
South African telecommunications giant Vodacom is in the process of acquiring a majority stake in Kenya’s largest company and major East African telecoms firm, Safaricom. The announcement was made on Monday, with a proposed 34.94 percent indirect stake set to be bought from the Kenyan government. The stake is worth 284 billion Kenyan shillings or around $2.76 billion, based on Safaricom’s current share price on the Nairobi Securities Exchange.
The Conversation, 9:16 am
Disruptive competition through technology can benefit consumers, but it also raises socioeconomic issues. Africa is no exception. There are concerns that Uber, with its first-mover advantage in the ride-sharing market, is growing into a monopoly despite the benefits to consumers. Traditional metered taxis are seeing red. In South Africa, new entrants into the ride-sharing app market have made little progress. The picture is very different in Kenya. Safaricom appears to have overcome the seemingly insurmountable first-mover position enjoyed by Uber.
Tom Jackson, 2:19 pm AFKI Original
Just 2% of retail transactions in Africa are electronic. Cash is still king and small transactions — less than $2 — have hindered the growth of mobile money outside of its Kenyan heartland. The value of M-Pesa and similar services is questionable for Africans living on just a few dollars a day. The average M-Pesa transaction value is closer to US$30. It’s unsustainable for agents to serve lower-income segments. They can’t afford to get down to the level of very small transactions, limiting the effect of mobile money on the bottom of the pyramid.
Kevin Mwanza, 9:29 am
Little Cab, a taxi-hailing app owned by Nairobi-based technology firms, Craft Silicon, and East Africa’s biggest telecommunication provider, Safaricom, plans to expand its operations to Uganda and Nigeria as it intensifies its market battle against the dominant U.S.-based taxi-haling firm, Uber. The decision is likely to change the app’s fortunes, whose increase in customers in Kenya has not led to a rise in its earnings
Kevin Mwanza, 10:04 am AFKI Original
Uber drivers in Kenya’s capital, Nairobi, have gone on strike to protest a decision by the taxi-hailing tech company to cut prices by more than 35 percent in a bid to wade off growing competition in the East African nation. A number of drivers affiliated to the San Francisco-based Uber Technologies held a demonstration on Tuesday in Westlands, a suburb of the African city, where the company is headquartered.
Kevin Mwanza, 7:55 am
The Zimbabwean government deliberately blocked the entry of South Africa’s MTN Group and Kenya’s Safaricom into the nation’s telecoms space in order to shield local operators from bigger international firms and promote their organic growth. MTN has its presence in 22 African countries, while Safaricom is the biggest communication company in East and Central Africa. The Southern Africa nation has three mobile networks — Econet, NetOne and Telecel.
Kevin Mwanza, 7:44 am
Kenya largest telecom, Safaricom, plans to launch a taxi hailing service, known as Littlecabs, that will compete with Uber in the local market. Safaricom’s chief executive Robert Collymore told Reuters the operator — famous for it successful mobile money platform M-Pesa — will partner with a local software firm, Craft Silicon, to create the Littlecabs app. “It is effectively a rival for Uber,” Collymore said. “It is a local competitor which will be cheaper and better for the local community.”
- Real Estate