Tag Archives: Safaricom
Safaricom: Latest News
Peter Pedroncelli, 4:26 am
East African mobile giant Safaricom’s M-Pesa has been upgraded so that enhanced features can be added to the mobile money transfer platform. The popular Kenyan money transfer system was upgraded last week, with a service interruption of 13 hours explained as necessary to enable new features which will be added to M-Pesa in the coming months for the benefit of their 26 million customers.
Peter Pedroncelli, 1:03 pm AFKI Original
Mobile operators in sub-Saharan Africa have a unique set of challenges that they face in the region, but if they manage to overcome these obstacles, success awaits. Sub-Saharan Africa is home to many mobile operators who have dominated their markets, from Vodacom in South Africa to Safaricom in Kenya, but that dominance has not come easy. Now a fresh set of issues stand in the way of further success on the continent.
Peter Pedroncelli, 5:01 am
Safaricom, the world’s biggest mobile money operator, is set to launch an e-commerce platform in October that will be focused on supporting and enabling small businesses to sell their products online. The aim of Masoko, as the e-commerce platform will be called, will be to give small and micro businesses access to markets that they would otherwise be unable to reach with their products.
Peter Pedroncelli, 6:02 am
Vodacom’s $2.6 billion share acquisition of Safaricom has now been finalized, with the South African company now owning a 35 percent stake in the Kenyan telecommunications and mobile operator. Vodacom has announced that all regulatory approvals and conditions related to both Kenya and South Africa have now been met, concluding the deal.
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.
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