The County Government of Nakuru has started a Sh80 million project within the Central Business District to construct telecommunications ducts aimed at reducing the number of fibre optic cuts, saving millions of shillings lost in repairs and downtime. Nakuru City Manager Gitau Thabanja says the ducts which will be shared by all providers are expected […]
Tag: safaricom
Mobile money transactions jump 38.4 pc in 10 months
NAIROBI, Kenya, Jan 22 -The value of mobile money moved in the first ten months of 2021 rose by 38.4 percent to Sh 5,640 billion from Sh4,075 billion recorded during a similar period in 2020. According to an analysis of data from the Central Bank of Kenya(CBK), October reported the highest value of mobile money […]
Could digital banking keep foreign banks from leaving Africa?
Before the outbreak of the COVID-19 pandemic in 2020, Africa’s financial services sector was struggling to reach its full potential to be at par with its European and American counterparts. The pandemic slowed progress in the sector, as well as in other critical sectors. And as policymakers strive to drive the financial services sector against […]
Dentons litigator joins MMK in Nairobi
A litigator has left Dentons’ Kenyan outfit to join a local firm which is facing greater demand from corporate clients. Kenyan law firm Munyao, Muthama & Kashindi Advocates (MMK) has added to its litigation practice with the hire of a partner with a broad disputes practice. James Tugee joined the firm this week from Dentons […]
Safaricom Partners with Google & Transsion to Expand Device Financing
Image Credit: Safaricom Safaricom has partnered with Google and Transsion, the company behind TECNO, Infinix and itel, to enable Kenyans access more 4G devices under the ‘Lipa Mdogo Mdogo’ financing plan. Through the partnership, Safaricom customers can access the internet and the world of possibilities via an array of smartphones that they can pay for […]
Uganda bags $78mln from Airtel in licence renewal payment, highest in the region
Airtel Uganda paid the Ugandan government $77.79 million to renew its 20-year licence, its latest financial report shows. The company also borrowed $4 million from Standard Chartered Bank to pay for its licence renewal in October 2020, the new disclosures in its full financial year ending March 2021 show. This comes as the parent company, […]
State mortgage financier gets nod to raise Sh10.5b
From left: Kenya Mortgage Finance Company (KMRC) Head of Risk and Compliance Florah Muthaura, IFC Business Development Lead for Financial Institutions East Africa Jes Chonzi, KMRC CEO Johnstone Oltetia, IFC Manager for Sub-Saharan Africa Gokhan Kont, KMRC Head of Legal Services Elisha Nyikuli and Head of Credit Geofrey Mwaura during a business meeting to discuss […]
Airtel Money records Sh79m annual profit
Airtel Kenya’s mobile money business made a profit of Sh79 million in the year ended December 2020, sharply contrasting with the company’s voice division whose losses rose to Sh6 billion in the period. The mobile money unit recorded revenue of Sh245 million in the period, the company’s financial results show, and although expenses were higher […]
50 Company Stocks to Watch in 2022
The analysts at Bloomberg Intelligence —who track some 2,000 companies in finance, retail, energy, technology, and more—have identified 50 worth watching carefully in the year ahead. When building the list, they considered factors such as growth prospects, management changes, and planned releases of noteworthy products and services. The impact of the Covid-19 pandemic was important, […]
Ethiopia licence hitch stalls M-Pesa expansion plan
Ethiopia has suspended bids for a second telecommunication licence that was to include mobile money, stalling Safaricom’s quest to launch M-Pesa in the country. The Ethiopian Communication Authority (ECA) said through a notice dated December 22 that it had cancelled the plan to offer the new telecoms licence following requests from interested parties. “ECA received […]