Browsing: Mpesa Safaricom

• After over a decade since launching, Mpesa has 54.4 million users in Africa.
• Safaricom has increased its Group Service Revenue by 5.2 percent to $2.159 billion, while the Group net income declined by 10.6 percent within Ethiopia.
• Safaricom Telecommunications Ethiopia added close to 3 million customers.

Safaricom, one of Africa’s top telecommunication services in Africa, finally acquired a license to operate M-PESA within Ethiopia. This new milestone will open doors for the East African country by ushering in a new age of mobile money.

This new initiative is what the Ethiopian economy requires as it struggles to regain stability within its borders.

The power of Mobile Money provider M-PESA

M-PESA first debuted in 2007 and sent Africa into a wave of digital money before any government perceived digital transformation. Its primary mechanism allows users to send and receive currency by clicking a button. This new initiative ushered in a …

• The concept of the knowledge economy describes trends in advancements in economies towards significant dependence on Knowledge, Information and the capitalization of high skill levels.

• The Poland Knowledge Economy Assessment (KEA) has provided various policy options for securing additional sustainability growth and improving competitiveness.

• Africa’s human capital needs to be explored and utilized more. Developed countries have realized this hence why they often set up bases in Africa to benefit from the innovation of their people.  

Africa is renowned worldwide for its rich natural resources, both in material and human capital. Over the years, manufacturing and agriculture have mainly contributed to Africa’s economic growth. Both have sustained Africa’s economy to what it is now, but the world has drastically changed over the years.

Today the concept of a knowledge economy has propelled various economies to new heights. A prime example is Poland’s economic growth over the past few decades. Focusing …

• Mpesa has a 7 % penetration of the GSM base in Egypt and 40% in Ghana while having a dominant 90% in Kenya.
• Kenya’s 91 startups got the third-largest capital inflow in Africa.
• A report released by Disrupt Africa indicated that Kenya’s average investment size was $6.3 million.

Africa’s tech Industry received a significant reveal as Kenyan tech startups accumulated $574.8 million(Ksh 71.7 billion) in funding last year. This figure astonishes many within the industry since it truly puts into perspective the current direction of Africa’s digital economy. Nowadays, funding tech startups is one of the few ways governments and organizations plan to stay ahead of the 4th Industrial Revolution. 

It is crucial to understand that Kenya, along with Nigeria and South Africa are at the top of Africa’s tech industry. In Kenya, 308 promising tech startups have inspired various organizations and governments to invest in them Nairobi, is the …

• Safaricom Limited has announced the election of Adil Arshed Khawaja (MBS) as the Chairman of the Board on 26th January 2023
• The highly distinguished Advocate of the High Court of Kenya, was appointed a Director in Safaricom PLC on 22nd December 2022 following the resignation of John Ngumi. 
• He currently serves as the Managing Partner at Dentons Hamilton Harrison & Mathews, the oldest law firm in Kenya, established in 1902 with a reputation of being an innovative, experienced, responsive, and highly skilled firm.

Safaricom Limited has announced the election of Adil Arshed Khawaja (MBS) as the Chairman of the Board on 26th January 2023

The highly distinguished Advocate of the High Court of Kenya, was appointed a Director in Safaricom PLC on 22nd December 2022 following the resignation of John Ngumi. 

Khawaja has over 30 years work experience in the legal profession ranging from dispute resolution, to commercial and real …

The report noted that the value of Africa’s mobile money transactions increased from US$495 billion in 2020 to US$701.4 billion in 2021. Research by American firm Boston Consulting Group (BCG) affirmed that Kenya and Ghana are ranked second and third in mobile payment usage globally after China, the world’s most populated country.

During the period under review, transactions through mobile wallets and phones were the equivalent of 87 per cent of Gross Domestic Product (GDP) in Kenya and 82 per cent in Ghana.

The International Monetary Fund (IMF) and the World Bank ranked Ghana as the fastest-growing mobile money market. That was not the case in 2009 when mobile money services were launched in the West African country. At that time, 70 per cent of Ghana’s population had no access to bank services, while approximately 35 per cent of citizens owned mobile phones.…

Africa’s leading Mobile Network Operators (MNOs), MTN, Vodacom and Safaricom, have recently made bold plans to venture into the increasingly dynamic world of fintech. On 23^rd June 2021, Safaricom launched its super app, which creates an ecosystem of mini-apps from the network operator as well as third-party apps that feed off the super app[1]. A month prior to this development, Safaricom, the leading MNO in Kenya announced plans to release an Application Protocol Interface (API) for the super app to enable third-party app developers to build more products and services on top of the super app[2]. This means the super app is going to be an app store that consolidates the reach of Safaricom.

In May, MTN also announced plans to become a tech platform to rival the likes of Apple and WeChat as part of their Ambition 2025 which is currently being implemented[3]…