Mobile money is the fastest growing source of income for network operators such as MTN and Safaricom, outpacing data.
African telecommunications authorities must walk a fine line when it comes to regulating the move of mobile operators into financial services.
Safaricom, Kenya’s most valuable company, has appointed Michael Joseph as interim CEO following the death of Bob Collymore.
Safaricom CEO Bob Collymore, whose push into mobile payments spurred a five-fold increase in the Kenyan company’s value, died after a battle with cancer. He was 61.
Among Facebook’s justifications for introducing a new digital currency, libra, the company has offered one pious rationale: to connect the 1.7 billion adults who lack bank accounts to the global financial system.
Vodacom cut its full-year dividend to R7.95/share for the year ended 31 March 2019, a 2.5% decline from the R8.15/share it returned to shareholders in 2018.
Vodacom Group has updated its profit outlook on the back of the acquisition of East Africa’s largest mobile phone company that’s helping it push into financial services.
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.
Bharti Airtel’s Kenyan unit has agreed to combine operations with Telkom Kenya, creating the second-largest telecommunications operator in the East African nation after Safaricom.
WorldRemit, a UK company that specialises in money transfers into Africa, plans a new funding round in the next six months ahead of a potential initial public offering or buyout.