This is why we are against Telkom-Airtel merger – Safaricom

Safaricom has raised concerns over the Telkom-Airtel merger. In a statement by acting CEO Michael Joseph, Safaricom said it “believes in competition based on innovation, investment, focus on brand building and service to the customer,” but went on to name three concerns that it is dissatisfied with “Industry players are free to engage and organize themselves as they please, subject to regulatory approvals, to achieve their objectives… While we are supportive of industry changes that seek to deliver greater choice and value to consumers, we have raised valid concerns that we…

Read More

MPESA on an expansion spree as Safaricom targets Nigeria, Ethiopia

MPESA

Touted as Africa’s biggest innovation in financially inclusive services, MPESA, a mobile money service delivered by Safaricom PLC has set sights on Nigerian and Ethiopian markets. According to Safaricom’s interim CEO, Michael Joseph, the huge populations in the two countries provider a potentially buoyant opportunity and could serve as gateways to other environments in Africa. MPESA, in existence since 2007, currently accounts for a third of Safaricom’s revenues. The product delivered a revenue contribution of Sh. 75 billion in the 2018/2019 financial year. While Nigeria has equally strong mobile money…

Read More