Browsing: Safaricom

Safaricom Ethiopia makes KSh 98.3 million in total revenue in first 30 days
  • Safaricom Ethiopia Service Revenue for the first month of operations was KSh 9.1 million, while Total Revenue, including handsets sales, was KSh 98.3 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 Kenya delivered a …

Why does this happen? Is it governance? Is it the CEO? Is it the CEO’s relationship with the Board of Directors? Or is it something else?

High CEO turnover may boil down to an individual problem, but before pointing too many fingers, organizations may want to turn inward and seek any possible problems occurring in the history of the role as well.

Now, let us look at Kenya’s top four CEO changes in 2022.…

  • Peter Ndegwa has mobilised his Kenyan counterparts to join the Africa Business Leaders Coalition 
  • The Safaricom chief executive urged CEOs to take the initiative and be part of the commitment to advance Africa’s sustainable growth, prosperity and development
  • The telco is one of the coalition’s founding members whose aim is to bring together CEOs from across the continent to help drive action on pressing sustainability issues 

Kenyan CEOs have been urged to join the Africa Business Leaders Coalition (ABLC).

While mobilising his counterparts, Safaricom’s CEO, Peter Ndegwa, urged CEOs to take the initiative and be part of the commitment to advance Africa’s sustainable growth, prosperity and development.

Safaricom is one of the coalition’s founding members whose aim is to bring together CEOs from across the continent to help drive action on pressing sustainability issues and promote UN Global Compact principles in their supply chains and broader ecosystem.

Speaking during Safaricom’s …

  • 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 …

Generally speaking, the proliferation of mobile phone technology has increased access to mobile money services (MMS) and is the backbone of mobile money deployment in both rural and urban areas of Africa.

“Despite its enormous benefits, embracing the usage and acceptance of mobile money has mostly been low due to security issues and challenges associated with the system,” warns professor Guma Ali from the Nelson Mandela African Institution of Science and Technology.

In a paper titled ‘Evaluation of Key Security Issues Associated with Mobile Money Systems in Uganda,’ the pundit suggests the need to carry out a survey to evaluate the key security issues associated with mobile money systems in Uganda (and Africa).

In the study that followed, which employed a descriptive research design, and stratified random sampling technique to group the population, some 741 registered mobile money (MM) users and 447 registered MM agents along with 52 mobile network …

  • Brand Finance ranked giant telecommunications company Safaricom as the most valuable brand
  • Equity Group Holdings Limited has become one of the most recognised banks in Kenya under James Mwangi’s leadership
  • Tusker Lager emerged as the fastest-growing brand with its value growing by 132 per cent

Brand Finance, a valuation consultancy firm, recently released the list of the most valuable brands in Kenya.

The Brand Finance Kenya 20 2022 ranking listed giant telecommunications company Safaricom as the most valuable brand. The telco has consistently maintained the top spot out of 20 firms surveyed over the years.

Companies in the financial sector services dominated the list.

  1. Safaricom

Safaricom is the largest telecommunications company in Kenya. The 2021-2022 first quarter sector report released by the Communications Authority of Kenya (CAK) noted that the telco is the market leader with a 64.6% share.

The Kenyan government and Vodacom each control a 35 per cent

  • Safaricom has appointed investment banker John Ngumi as their new chairman, effective August 1, 2022
  • The company unveiled Ngumi as the new chair who would take over from Michael Joseph, who took up the position in 2020
  • Ngumi has had a 35-year banking career, having worked with local and international corporates with an East African regional presence, state-owned enterprises, sovereigns, and financial services grasps

Safaricom, Kenya’s biggest telecommunications company, has appointed investment banker John Ngumi as their new chairman, effective August 1, 2022.

On Friday, July 29, 2022, Safaricom unveiled Ngumi as the new chair who would take over from Michael Joseph, who took up the position in 2020.

Joseph took the job after Safaricom’s long-serving chairman Nicholas Ng’ang’a retired in 2020.

In a statement sent to The Exchange Africa, Safaricom said the incoming Chairman has had a 35-year banking career, having worked with local and international corporates with an …

  • Kenya’s leading telcos have signed a landmark deal that will propel the mobile money space in the country
  • Telkom, Safaricom, and Airtel announced that Kenyans can now make direct mobile money payments to an M-PESA Pay Bill number from any network
  • The companies said the move follows their announcement in April 2022, which saw Kenyans being able to make mobile money payments to M-PESA Buy Goods and Services Tills from any network

Kenya’s leading telcos have signed a landmark deal that will propel the mobile money space in the country.

On Friday, July 15, 2022, Telkom, Safaricom, and Airtel signed a deal to allow Kenyans to make direct mobile money payments to an M-PESA Pay Bill number from any network.

In a statement, the telecommunications companies said the move follows their announcement in April 2022, which saw Kenyans being able to make mobile money payments to M-PESA Buy Goods and …

In the future, Adanian Labs wants to get past the current phase, in which the flow of deals around the world is slowing down, and rise to power more start-ups and take over more markets across the continent.

In just two years, Adanian Labs has expanded out of Kenya and into Tanzania, Zambia, South Africa, and Nigeria, which are some of Africa’s biggest start-up and tech hubs.

It wants to have a presence all over Africa by 2025, and it is working hard to help build 300 companies in the next five years. In the meantime, the lab plans to set up shop in the Democratic Republic of Congo (DRC), Senegal, and the Ivory Coast. It is also thinking about using a franchise model to speed up its growth.

Adanian Labs start-ups can easily expand into other markets because they can use the existing infrastructure of the venture studio as …