Central Bank of Kenya (CBK)
Central Bank of Kenya Cracks Down on Flutterwave, Chipper
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Kenswitch & Absa Customers in Kenya to Use ATMs Interchangeably
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Central Bank of Kenya Orders Banks to Ration Dollar Currency
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Safaricom Forced to Split Dividend Payouts by CBK
Image sourced from Techweez The Central Bank of Kenya (CBK) has pressured Safaricom into dividing its dividend payouts in order to “shield the weakening shilling when the telecommunications firm seeks dollars for repatriation to foreign investors”, reports Business Daily. Kenya’s local currency has faced immense pressure in recent months following the collapse of the tourism sector due to the COVID-19 pandemic. According to people familiar with the matter, the CBK’s push is one of the “key factors for the firm to break its tradition of making a single dividend payment in August or September” – this comes after the telco announced its first-ever interim dividend of Sh0.45 in February. “Safaricom has to buy dollars from the market then repatriate the dividends. The dollar demand associated w...
Calls for Safaricom to Share Telco Infrastructure by Kenya Competition Authority
Image sourced from Techweez The Competition Authority of Kenya (CAK) has approached Parliament with new laws that would require the country’s telco’s – mainly Safaricom – to share their private infrastructure on a commercial basis. “The authority’s view is that ab initio infrastructure provisions in the sector should have been separated from the mobile network operators. Primarily regulations should have been developed to ensure that third parties provide the infrastructure. Unfortunately, this did not happen,” says CAK Director-General, Francis Wang’ombe Kariuki. “It is with this reality that we opine regulations should be promulgated and enforced in regard to infrastructure sharing on a commercial basis and in case of dispute, the sector regulator [Communications Authority of Kenya] may ...
