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Posts Tagged ‘Safaricom’
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August 20, 2019

Mobile phones are replacing bank accounts in Africa

It doesn’t look like the hub of an online bank. But that’s what the yellow and blue metal kiosk becomes when Albert Agane locks himself behind the metal bars every day at 6am.

From his perch along a dusty suburban thoroughfare in Accra, the 28-year-old helps fellow Ghanaians withdraw or deposit cash for accounts they operate from their mobile phones. All they need do is text.

Mobile money is the fastest-growing source of income for wireless-network operators like MTN and Vodafone’s Safaricom unit, outpacing data since many Africans don’t have the latest smartphones. They need agents like Agane because ATMs and bank branches are out of reach, or too costly.

“In a [...]

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June 3, 2019

Safaricom, Vodacom plan $13 million M-Pesa deal

Kenya’s Safaricom will start a joint venture worth $13 million with South Africa’s Vodacom to acquire the intellectual property rights of M-Pesa from Britain’s Vodafone, Safaricom’s CEO said on Thursday.

The two mobile phone operators will acquire the intellectual property rights to the financial services platform M-Pesa, from Britain’s Vodafone.

Safaricom chief executive Bob Collymore said the deal would be used to expand M-Pesa services to more African markets, and to develop new products.

“It is about us (Safaricom) determining the future and the roadmap of M-Pesa. Because at the moment the roadmap is determined by Vodafone, and given that the bulk of the [...]

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