East Africa’s biggest company sees no compelling case for splitting its mobile money service M-Pesa into a separate unit.
Browsing: Peter Ndegwa
Vodacom affiliate Safaricom reported lower than expected annual profit amid high start-up costs in Ethiopia.
Safaricom’s popular payments platform M-Pesa was offline on Thursday, causing significant disruption in the East African nation.
Safaricom is encouraged by the positive outlook in Ethiopia and plans to start operations there this year, its CEO said.
Kenya’s biggest telecommunications operator has lowered its full-year forecast for earnings due to its investment in Ethiopia.
The Global Partnership for Ethiopia, the Safaricom-led consortium that won a licence to build a network in the East African nation, has appointed Anwar Soussa to lead the venture.
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.
Kenya’s biggest company by market value, Safaricom, appointed Peter Ndegwa as CEO from 1 April 2020, amid plans for regional expansion and rising competition at home.