The north-east African state of Djibouti has set Thursday 16 September as the deadline for investors to express interest in taking a 40% stake in the incumbent operator. But at the same time, in documents published at the end of last week, the government has warned that Djibouti Telecom might face competition in the near […]
A stockbroker at the Nairobi Securities Exchange trading floor. FILE PHOTO | NMG The share of traded turnover attributed to foreign investors at the Nairobi Securities Exchange (NSE) fell to a three-year low in June, reflecting growing confidence in the market among local investors. Data from the Capital markets Authority (CMA) shows that foreign investors […]
Kenya’s biggest banks are the key to further gains for the benchmark Nairobi stock index this year as investors bet on the nation’s recovery from the pandemic, according to EFG Hermes Kenya. The Nairobi All Share Index has gained 16% in 2021 to the highest in more than three years. Expectations that the central bank […]
The Communications Authority of Kenya head office in Nairobi. FILE PHOTO | NMG The Communications Authority of Kenya (CA) is set to make fresh cuts on the rate mobile phone operators charge each other for interconnecting customers, signalling lower call tariffs. The regulator said time was ripe to review the charges commonly referred to as […]
Nairobi — Little, Kenya’s leading super-app platform has finalized plans to expand services to the Ethiopian market within this month in a move aimed at stamping its authority in the continent. This will be the fifth country after Kenya, Uganda, Zambia, and Tanzania where the first growing Pan African Company operates. Ethiopia is a unique […]
Safaricom CEO Peter Ndegwa during the release of Safaricom PLC full year results on April 29, 2020 The shareholders of telecoms operator Safaricom have cleared the way for the company’s Ethiopia venture. On Friday, the stakeholders voted by a majority allow Safaricom to subscribe for shares in Vodafamily Ethiopia Company, a special purpose vehicle entity […]
Image sourced from WeeTracker The case of Jonathan Murangiri Gikabu claiming that Safaricom had stolen his idea to launch M-Pesa payments using a card tap, wristband or a phone sticker has been dismissed by Kenya’s High Court judge Grace Nzioka. The judge says that Gikabu had failed to present enough evidence that Safaricom seized the […]
Safaricom CEO Peter Ndegwa. Safaricom Chief Executive Officer (CEO) Peter Ndegwa took home Sh201.5 million in annual pay in his first year at the helm of East Africa’s most profitable company. This means he was making about Sh16.79 million a month. According to the company’s latest annual report, Ndegwa’s basic pay for the year ended […]
Safaricom Sacco chair Paul Msava (left), PS State Department of ICT & Innovation Jerome Ochieng (middle) & Safaricom Chief Corporate Affairs Officer Stephen Chege (right) leading Safaricom Sacco members to celebrate 20 years of the Sacco’s existence. Far right is Safaricom Sacco vice-chair Elizabeth Mudogo Safaricom Sacco Ltd has launched a mortgage product that allows […]
![[WATCH] The Evolution of Mobile Banking in Kenya](https://moneyinafrica.com/wp-content/uploads/2021/08/E5wn1neXoAAdq0p-230x168.jpeg)
In Kenya, M-PESA, the mobile money transfer service established in 2007 by Safaricom, is regarded as the first truly successful mobile money service in the world. M-PESA is accredited with introducing financial services to low-income and unemployed persons across the country, unlocking economic opportunities for millions. However, before M-PESA, the Kenyan banking and finance sector […]
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