Browsing: Telcos in East Africa

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 …

The technology, media and telecommunications (TMT) sector in Africa is expected to show impressive growth in 2019.

This is according to according to Baker McKenzie’s Global Transaction Forecast (Forecast) in association with Oxford Economics who also predict that transactions are expected to exceed earlier predictions of mergers and acquisition (M&A) investments worth USD 5.9 billion in 2019.

The state of investment in the TMT sector in Africa was under discussion at Baker McKenzie’s African Transactional Summit, held in Johannesburg this week. Janet MacKenzie, partner in the Corporate M&A Practice and Head of the TMT Industry Group at Baker McKenzie in Johannesburg said that Africa was considered to be a region of significant investment potential in the tech space.

“Increasingly, M&A deals and IPOs in the TMT sector in Africa point to the growing reliance of African consumers on technology across multiple platforms. The unabated demand for technology has caused extensive …