Airtel Money
Airtel Africa Coughs Up $40-Million for New Kenyan Spectrum
Sourced from Comms MEA Airtel Africa, one of the continent’s largest telecommunications groups with a presence in 14 countries, today announces that its Kenya subsidiary, Airtel Kenya, has concluded its purchase of additional spectrum in the country. According to the announcement Airtel Kenya has purchased 60 MHz of additional spectrum in the 2600 MHz band from the Communications Authority of Kenya, for a gross consideration of $40-million. The current spectrum license is valid from July 2022 for a period of 15 years. “This additional spectrum will support our 4G network capacity expansion in the market for both mobile data and fixed wireless home broadband capability, and will allow for future 5G rollout, providing significant capacity to accommodate our continued strong data growth in th...
Airtel Money is Now On its Own
Sourced from Comms MEA Telecoms group Airtel Kenya has announced that it will be splitting its mobile money business – Airtel Money – from its main company. Instead, Airtel Money will now be operating under the name ‘Airtel Money Kenya Limited’. “Following this business separation, Airtel Money Kenya Limited will take over and continue the provision of the Airtel Money Services, in collaboration with the licensed telecommunications network of Airtel Networks Kenya Limited,” reads the announcement from Airtel. Airtel says that customers that continue to use Airtel Money services agree that their personal information and accounts will still be shared between Airtel Money Kenya Limited and Airtel Networks Kenya Limited. “The continued use of the Airtel Money Service shall be deemed as proof o...
Airtel Money is Launching this New Virtual Payment Solution in Zambia
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Airtel Africa to Sell Stake in Airtel Money
Sourced from Comms MEA Airtel Africa has revealed its plans to raise cash by selling a minority stake in Airtel Money – its mobile financial platform. According to Business Daily, this move is part of the company’s strategy to sell some assets. “We are actively pursuing the sale of the remaining owned tower sites that sit across several of our operating countries and the group is in discussions with various potential investors in relation to possible minority investments into Airtel Money,” reads a trading update from the telco. “Discussions are ongoing between the parties and there can be no certainty that a transaction will be concluded or as to the final terms of any transaction.” Airtel did not disclose the amount it expects to raise. However, its revenues reached $291 million across i...
Jumia and Airtel Kenya Partner to Enable Mobile Payments
Jumia and Airtel Kenya have partnered to allow consumers to complete their online payment transactions using Airtel Money. “Millions of Kenyans rely on mobile money daily to make fast payments. By expanding our payment options to include Airtel money, it will make it easier for more consumers to incorporate online shopping as part of their daily transactions,” says Nelly Movine, Head of Financial Services at Jumia. The service is expected to further enhance the Jumia contactless-delivery initiative launched in March as a safety measure against COVID-19. Consumers are encouraged to prepay for their purchases to avoid cash exchange or pay with Airtel money upon delivery. “We are delighted to be working with Jumia on this exciting partnership to enhance customer experience on the Jumia platfo...
Airtel Africa and Mukuru Partner to Facilitate Money Transfers within Africa
Airtel Africa and Mukuru have partnered to enable Mukuru customers to instantly send cross-border transfers directly to Airtel Money customer wallets in 12 African countries. This partnership will be particularly beneficial for customers making intra-Africa payments from Southern Africa where Mukuru has a leading presence. Customers also benefit from no longer having to physically go to an Agent to receive cross-border payments. Once Airtel Money customers receive the funds, they can be used to pay utility bills, goods and services, transferred to family or can be cashed out at any of Airtel Africa’s exclusive branches, kiosks and agents. “This partnership empowers those without a bank account to be included in the formal financial ecosystem and to move money conveniently, seamlessly and s...
M-PESA is Close to a 99% Market Share in Kenya
Sourced from Tech Weez. As of 31 March 2020, the number of registered mobile money subscriptions in Kenya was 29.1 million. This space is dominated by Safaricom with M-PESA having a 98.8% market share. The Communications Authority of Kenya (CA) reports that Airtel Money comes in a far, far second at 1.1%, and third is T-Kash at a 0.05% share. Equitel, which is regarded more as a banking product than a mobile money service was not ranked by the CA. Launched in 2007, M-PESA has become a Kenyan stable, with Tech Weez writing that as of right now the service and its products are symbiotic with the country’s economy so far as to be impossible to run a business without it, or any other mobile money platform. M-PESA’s success has also firmly planted Kenya in the world map, the service is consider...
