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Vodacom, has unveiled a first in the market mobile money service that allows M-PESA customers to complete their M-PESA transactions when they have insufficient funds in their M-PESA accounts.
This innovative solution dubbed Songesha was launched in partnership with TPB bank at an event at the company’s headquarter.
In January this year, Safaricom launched a feature on M-Pesa dubbed Fuliza that allows users access an overdraft facility and it has since garnered millions of users in Kenya.
With the introduction of the overdraft service, M-Pesa customers can now use M-Pesa with ease and confidence because they have instant access to credit to enables them to make money transfers, remit bills, purchase from merchants or when they have insufficient funds in their accounts.
According to a statement from Vodacom, the Director of M-Commerce, Epimack Mbeteni said, “Our desire to spur innovative mobile finance led us to keenly take note of our …
Safaricom’s CEO Bob Collymore has passed on.
According to a statement issued by Safaricom, Bob died on Monday on 1st July in morning at his home when his condition worsened.
“In October 2017 Bob proceeded to the UK to receive treatment for acute Myeloid Leukemia (AML) and returned in July 2018 to resume his duties. He has been undergoing treatment for this condition since then in different hospitals and most recently at Aga Khan University Hospital in Nairobi. In recent weeks, his condition worsened and he succumbed to cancer at his home in the early hours of Monday 1st July 2019,” reads a statement from the telecommunication firm he was heading before his demise.
In may this year, Safaricom extended Bob’s term to 2020 to allow him compensate for his earlier absence out of medical leave.
This was his second extension at the helm of the company.
Also Read: Safaricom…
Kenya lags behind despite being among the pioneers of fast internet speeds on the continent…
Trading at the Nairobi Securities Exchange (NSE) more than doubled this week compared to the previous week, as the market recorded increased investor activities.
Week on week turnover rose Ksh3.7 billion (US$36.3 million) on 102 million shares traded against 51.8 million shares valued at Ksh1.3 billion (US$12.8 million) transacted the previous week.
During the week’s trading which closed on Friday, the NSE 20 share index was up 6.32 points to stand at 2706.78. All Share Index (NASI) shed 0.35 points to settle at 150.12 while the NSE 25 Share index lost 11.08 points to settle at 3637.98.
The banking sector was busy with shares worth Ksh1.3 billion transacted which accounted for 35.78 per cent of the week’s traded value. Equity Group Holdings actively moved 15 million shares valued at Ksh601 million at between Ksh39.75 and Ksh40.05.
KCB Group moved 11 million shares worth Ksh446 million and closed the …
Kenyans transacted over KShs1.9 trillion between April 1, 2018, and June 30, 2018. …
Safaricom (NSE: SCOM) has announced plans to double its 4G network coverage to 5000 base stations by March 2020, covering all major towns and 80 per cent of the Kenya population.
The announcement was made by the company CEO Bob Collymore as he released financial results for the year ending March 31, 2019, which saw net income increase by 14.7 per cent to Ksh63.4 billion (USD624.9 million ) with revenue hitting Ksh240.3 billion (USD2.4 billion).
“We are pleased with the strong results we have delivered for the year, building on our long track record of delivering relevant products and putting the customer first. We foresee continued growth in the future,” said Collymore.
Safaricom expects to spend over Ksh36 billion (USD354.8 million) in driving up additional 4G coverage, which will see the company roll out an additional 2,030 4G and 4G+ base station to reach more than 80 per cent …
NSE 20 share Index which tracks top listed companies at the bourse was down 16.21 points
Trading at the Nairobi Securities Exchange (NSE) opened the week with low activities as shares traded close Monday at a total of 10 million, valued at Ksh302.5 million (USD 2.9 million).
This was down compared to 19.8 million shares valued at Ksh560 million (USD5.5 million) posted on Friday before the market took a break for the weekend.
On Monday, the NSE 20 share Index, which tracks blue chip companies was down 16.21 points to stand at 2783.01. All Share Index (NASI) shed 2.40 points to settle at 157.79 while the NSE 25 Share index dropped 52.07 points to settle at 3886.48.
The banking Sector had shares worth Ksh148 million transacted which accounted for 49.16 per cent of the day’s traded value. Equity Group Holdings was the day’s biggest mover with 1.9 million shares …
Equity Group Holdings was the day’s main feature with 2.3 million shares traded
The week’s trading at the Nairobi Securities Exchange (NSE) opened on a modest pace marked by low volumes and value of shares.
The bourse opened the week with a total of seven million shares valued at Ksh219 million (US$2.2 million) against 9.3 million shares valued at Ksh249 million (US$2.5 million) posted on Friday.
The NSE 20 share Index, which tracks blue chip companies, was down 15.38 points to stand at 2899.41.
All Share Index (NASI) shed 0.58 points to settle at 157.33. Equally, the NSE 25 Share index dropped 8.23 points to settle at 3957.02.
The banking sector had shares worth Ksh148 million transacted which accounted for 67.76 per cent of the day’s traded value.
Equity Group Holdings was the day’s main feature with 2.3 million shares valued at Ksh100 million changing hands at between Ksh42.75 …
Mobile subscription in the country grew 6.2 per cent in the second quarter of 2018
A proliferation of mobile applications on popular online stores is exposing Kenyans to increased cyber attacks and fraud, a latest sector statistics report by the Communications Authority of Kenya (CA) has revealed.
This comes in the wake of a fast growing mobile subscription in the country which grew 6.2 per cent in the second quarter of 2018(October-December).
According to CA’s sector statistics report for the financial year 2018-2019, mobile subscriptions in Q2 grew to 49.5 million up from 46.6 million in the first quarter(July-September).
Data subscription during the period increased to 45.7 million from 42.2 million in the previous quarter, meaning Kenyans are increasingly getting connected to the internet.
This has created a field day for fraudsters who are taking advantage of innocent members of the public with little knowledge on cyber attacks.
The report …