Safaricom of Kenya is holding talks with Amazon.com about the use of mobile money service M-Pesa on the e-commerce giant’s platform.
Kenya’s Safaricom posted a drop in its full-year core earnings as the impact of Covid-19 cut revenue from financial services and calls, though it predicted a recovery based on second-half numbers.
MTN Group is valuing its mobile money arm at R75-billion, joining African wireless carriers planning to list these businesses in a region that has more mobile money accounts than anywhere else in the world.
Africa’s mobile phone operators are ramping up plans to bring banking to millions of Africans, in some cases for the first time, after the coronavirus crisis caused a surge in use of digital financial services.
Telkom Kenya has called on the industry regulator to ensure a level playing field, weeks after the company abandoned plans to combine operations with Airtel Africa’s domestic unit.
Mobile money is the fastest growing source of income for network operators such as MTN and Safaricom, outpacing data.
MTN South Africa is making “good progress” in its plans to relaunch mobile money services in South Africa, according to group CEO Rob Shuter.