Safaricom – Kenyan Enterprise

Safaricom, TerraPay Sign Bangladesh, Pakistan Money Transfer Deal

Enterprise Team — Wed, 19 Jul 2023 06:57:54 +0000

Safaricom has partnered with TerraPay (Mobex Kenya) with the objective of expanding its money transfer services to Bangladesh and Pakistan, Customers can transfer and receive money from the two countries using the platform, which is part of the M-PESA Global Service, using the Super App or USSD. Dilip Pal, the chief financial officer of Safaricom, emphasised […]

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Safaricom, Kenya Water Institute Partner to Deploy Smart Water System

Lesile Selelo — Thu, 08 Jun 2023 11:54:17 +0000

Safaricom has partnered with the Kenya Water Institute (KEWI) to build capacity in the water sector, in line with Sustainable Development Goal 6, which seeks to ensure the availability and sustainable management of clean water and sanitation for all. In order to promote hands-on training, Safaricom will install a smart water system at KEWI’s Nairobi […]

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CBK approves the Lipa na M-Pesa interest-free Loan program

Lesile Selelo — Wed, 07 Jun 2023 07:23:40 +0000

The Central Bank of Kenya (CBK) initially blocked the product that is anticipated to upend the mobile loans market but has now approved a Safaricom-backed zero-interest credit service for the purchase of goods up to Sh100,000. The Faraja product will be released later this month, capping off nearly a year of regulatory approval delays. It […]

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60,000 Kenyans to Benefit from M-PESA Foundation-Funded Medical Camps

Lesile Selelo — Mon, 29 May 2023 10:30:25 +0000

About 60,000 people across Kenya are set to benefit from M-PESA Foundation-funded medical camps in 47 counties, starting with Lamu County this week. The Sh46 million investment is expected to support the provision of health information, the purchase of medical supplies and medications for general healthcare, the screening of specific NCDs, dental and eye care, […]

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Safaricom 5G Customers to Enjoy 1 Month Free Internet

Lesile Selelo — Wed, 24 May 2023 07:39:35 +0000

Starting this month, Safaricom 5G users will have access to free internet for one month. Users will be eligible for five gigabytes with time lapses of 24 hours. The offer, which will start on May 24th, is redeemable on the Safaricom app, according to the telco. “We continue to avail exciting data offers and invest in […]

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Safaricom Unveils Plan to Set up Smartphone Factory

Lesile Selelo — Wed, 24 May 2023 06:04:57 +0000

Safaricom has disclosed that it is opening a plant in Kenya that will assemble between 1.2 million and 1.4 million smartphones annually. As one of the major actors lining up to carry out President William Ruto’s goal to execute the production of Africa’s cheapest devices, it now ranks among the main competitors in the race. […]

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Will Kenya’s decline outpace Safaricom’s new revenue sources?

Clara Situma — Sat, 20 May 2023 08:28:33 +0000

A little more than a year ago, Safaricom’s entry into Ethiopia seemed risky given the country’s two-year civil war, funding limitations, and hazy prospects for obtaining a mobile money license. With hostilities over and life returning to normal in Ethiopia, Safaricom’s gamble appears to be paying off. The company was the first foreign company to […]

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Safaricom wants to Bring back No-Interest Loans for Shopping

Clara Situma — Mon, 15 May 2023 07:38:43 +0000

A zero-interest credit service for the purchase of goods that was previously blocked by the Central Bank of Kenya (CBK) hours before the launch is being brought back by Safaricom. The chief executive of Safaricom, Peter Ndegwa, said that the telco is making changes to the “Faraja” product as requested by the CBK and that […]

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Safaricom’s Net Profit Drops 22.2% to Sh52.5 Billion

Lesile Selelo — Thu, 11 May 2023 08:35:39 +0000

Due to strong inflationary pressure and a decline in voice profits, Safaricom’s net profit fell by Sh15 billion in the full year ending March 31, 2023. The telco’s net profit decreased from Sh67.5 billion during the same time last year to Sh52.5 billion this year. It came on the back of increasing inflationary pressure that […]

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Safaricom Ethiopia Receives License to Offer M-Pesa Services

Clara Situma — Thu, 11 May 2023 06:19:06 +0000

The National Bank of Ethiopia has granted Safaricom Ethiopia a license, enabling the telco to expand its profitable mobile money operation to the unexplored Horn of Africa nation with more than 100 million people. The country’s first license for a foreign investor was the Payment Instrument Issuer License. “The National Bank of Ethiopia has today […]

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