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Mobile communications company Vodacom has managed to overcome tough economic conditions reporting growth in its profits, helped by the acquisition of a 34.94% stake in Safaricom.
Vodacom has agreed to buy a 34.94% shareholding in Safaricom, giving the wireless operator majority control of Kenya’s biggest company.
Safaricom, Kenya's biggest telecoms operator, says a leaked report on procurement processes has not shown any wrongdoing.
A Western Union spokesperson says Kenya's Mpesa mobile phone-based money- transfer service is becoming more sophisticated.
Kenya's largest mobile phone network Safaricom said on Tuesday that it had signed a deal with government to construct a security system worth $165.2 million.
Providing the world's poorest with access to financial products is a major growth opportunity as the market for affluent clients becomes saturated, a report says.
Vodacom shareholders have voted in favour of the acquisition of an indirect stake in Kenya’s Safaricom.
WorldRemit, a British money transfer operator, sees revenue from transactions involving Africans doubling by 2020 as more people on the continent access payment platforms via mobile devices and as expatriates send cash home.
The news that SA mobile phone operator Vodacom is planning to drop the M-Pesa mobile money transfer service has come as a surprise to many analysts, considering the huge success it has seen in many African countries, especially Kenya.
Mobile network Safaricom launched Kenya's first fourth-generation (4G) internet services on Thursday, seeking to capitalise on the country's growing mobile market.
Kenya's two biggest telecoms operators have made a joint bid for the smallest operator, Indian group Essar Communications' Yu, the industry regulator says.
Safaricom has bought extra capacity on an undersea fibre-optic cable, underscoring its need for more bandwidth.
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