Browsing: Safaricom Ethiopia

• Cash transfer service M-PESA is eyeing a chunk of the remittances to Ethiopia which are estimated at $5 billion annually.
• Last year, the World Bank stated that the remittances flow to countries in sub-Saharan Africa reached $54 billion.
• Through a new M-PESA-Onafriq agreement, friends and relatives from 40 countries will now be able to send money directly to Safaricom Ethiopia M-PESA subscribers.

Safaricom Ethiopia is betting on remittances to grow cash transfer service M-PESA uptake in Ethiopia following an agreement with one of Africa’s largest digital payments network Onafriq. Through the deal, friends and relatives from 40 countries where Onafriq has a presence will now be able to send money directly to M-PESA subscribers in Africa’s second most populous country.

Through the agreement, individuals within Ethiopia will receive remittances from different parts of the world through M-PESA, based on the authorisation received from the National Bank of Ethiopia to start …

• Telco giant Safaricom has reported a 2.1% increase in net profit, reaching $225 million (KES34.2 billion) for the six months ending on September 30.
• Company CEO says there was heightened pressure on consumers’ finances due to both global influences and domestic inflation. 
• Money transfer service M-PESA was the firm’s biggest source of revenue at 42% in the period.

Kenya’s telecommunications giant, Safaricom, has reported a 2.1 percent increase in net profit, reaching $225 million (KES34.2 billion) for the six months ending on September 30. During this period, earnings from the cash transfer service, M-PESA, which constitutes approximately 42 per cent of the total service revenue, saw a 16 per cent surge compared to the same period in the previous year.

Safaricom CEO, Peter Ndegwa, pointed out that during the six months, there was heightened pressure on consumers’ finances due to both international influences and domestic factors such as inflation. Furthermore, …

• 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 …

• Safaricom Limited Chairman John Ngumi has resigned as the Chairman of the board effective 22nd December 2022 six months after his appointment. 
• Ngumi leaves the Board to focus on developing green energy generation across Africa with an emphasis on green hydrogen. 
• The company has also appointed veteran lawyer Adil Arshed Khawaja as a director of the board, effective 22nd December 2022. 

Safaricom Limited Chairman John Ngumi has resigned as the Chairman of the board effective 22nd December 2022, six months after his appointment. 

Safaricom Company Secretary Kathryne Maundu says Ngumi leaves the Board to focus on developing green energy generation across Africa with an emphasis on green hydrogen. 

“We take this opportunity to thank John for his service, dedication, sound advice and commitment to the Company. The Board wishes him the very best for the future,” Maundu said in a public notice released on Friday.

She says in the brief …

• Safaricom Ethiopia Service Revenue for the first month of operations was KSh 9.1 million, while Total Revenue, including handsets sales, was KSh 98. (Xanax) 3 million
• Safaricom Kenya delivered a solid set of results despite the prevailing macroeconomic challenges leading to a tough operating environment in Kenya and elevated pressure on consumer spending
• In Kenya, voice service revenue dropped by 3.8% to KSh 39.88 Billion; Mobile Data revenue grew by 11.3% to KSh 26.30 Billion, while M-PESA revenue grew by 8.7% to KSh 56.86 Billion

Safaricom has registered its first revenue from its Ethiopia operations in its first reporting cycle since the launch of its commercial operations.

Safaricom Ethiopia Service Revenue for the period ended September 30th 2022, was KSh 9.1M, while Total Revenue, including handsets sales, was KSh 98.3 million.

Safaricom Kenya’s net income grew by 0.6% year on year, supported by a 4.6% growth in revenue.…

• Safaricom has officially kicked off a large-scale customer pilot of its network in Ethiopia as part of ongoing plans to officially launch operations in Ethiopia 
• The telco has launched the trial network in Dire Dawa, Ethiopia’s second largest city after its capital Addis Ababa
• The launch of the network is part of Safaricom’s phased city-by-city regional network roll-out and rigorous service tests building towards its national launch in October

Safaricom Ethiopia has officially kicked off a large-scale customer pilot of its network in Ethiopia as part of ongoing plans to officially launch operations in the Horn of Africa country.

The telco has launched the trial network in Dire Dawa, Ethiopia’s second largest city after its capital Addis Ababa.

The launch of the network is part of Safaricom’s phased city-by-city regional network roll-out and rigorous service tests building towards its national launch in October.

Safaricom Ethiopia said the customer pilot would …