Safaricom shares fell the most in four months after East Africa’s biggest company by market value said profit growth will slow even as the wireless carrier expands its popular mobile banking service.
Two years after pulling the plug on its Mobile Money service in South Africa, MTN Group plans to relaunch the service in South Africa, according to sources close to the matter.
Safaricom has accused Kenya’s telecommunications regulator of failing to enforce investment requirements for smaller competitors in return for their licences, meaning its market share went unchallenged.
Father of capitalism Adam Smith once called money “one of the three great inventions, along with the written word and mathematics”. Money has helped business grow more efficiently, enabled markets to expand
Vodacom Group sees the expansion of mobile banking services into new markets in sub-Saharan Africa as a top priority following a shareholder vote to rubber stamp its purchase of a 35% stake in Safaricom, Kenya’s biggest company
On 27 June, the ATM turns 50. Former US Federal Reserve chairman Paul Volcker once described it as the “only useful innovation in banking”. But today, the cash that ATMs dispense may be on the endangered
Safaricom may expand its popular mobile banking service M-Pesa into countries such as Nigeria and Angola, as East Africa’s biggest company grapples with regulatory scrutiny in its home market of Kenya. The sale of a 35% stake
Vodacom is buying a 34,9% indirect stake in Kenya’s largest mobile phone operator, Safaricom, from its parent company Vodafone. The South African-listed telecommunications group is buying 87,5% of
A recently published study on the long-run effects of mobile money on economic outcomes in Kenya provides some valuable insights that will benefit economic development and financial inclusion policies across Africa. The study found that increased
Excessive regulation, a business model that tried to do too much too soon and trust worries among consumers. These are the reasons Vodacom’s M-Pesa and MTN’s Mobile Money failed in South Africa, according to the CEO