Peter Ndegwa CEO of Safaricom
Safaricom Launches Shari’ah-Compliant Mobile Loans
Sourced from Tech Weez. Safaricom has partnered with Gulf African Bank to launch a Shari’ah-compliant mobile financial service, Helal Pesa, in Kenya. According to Tech Weez, the product is the first Shari’ah-compliant mobile and digital solution in the East African country. Customers accessing financing through the service will receive the amount requested in full with a repayment period of 30 days at a 5% commodity Murabaha margin, according to Tech Weez. Abdalla Abdulkhalik, MD – Gulf African Bank, said Kenya is now a highly innovative, interconnected, and fast-paced community that requires solutions on the go. “All our digital offerings including Halal Pesa, seek to directly address this aspect. Our current strategy is focused on digitization for financial inclusion. Our aim is to ...
Safaricom Hits 30 Million Monthly Active M-PESA Users in Kenya
Image sourced from Business Daily. Telco Safaricom has revealed that its active M-PESA users have surpassed the 30-million mark for its Kenya customers, according to Techweez. Techweez says that this new development follows after the product’s 15th birthday after its launch in May 2007. M-PESA has the most active market accounting for more than 30 million of the service’s 51 million customers across Kenya, Tanzania, the Democratic Republic of Congo, Mozambique, Lesotho, Ghana, and Egypt. “The growth in M-PESA customer usage has been driven by the launch of various innovations over the years including financial services such as M-Shwari, KCB M-PESA, and Fuliza,” Peter Ndegwa, CEO of Safaricom, said. Last year, Safaricom launched the M-Pesa Super app that enables users to request payments, s...
Safaricom to Bid on Opportunity to Expand in Ethiopia
Image sourced from Techweez Safaricom is now one of six companies vying for the chance to claim one of two Ethiopian telecoms licences. This is one opportunity that the telco has been waiting on and one that might grant access to a licence in an economy with more than 100-million people. This comes after the Ethiopian Telecommunication Authority (ECA) issued a statement last year announcing that the country would be open to selling a 40% stake in the state-owned company. In response to this announcement, Safaricom and, its parent company, Vodacom both expressed their interest in buying a stake in Ethio Telecom. According to Bussiness Daily, the ECA has “whittled the list down from a consortium of 12 that had expressed interest in entering the country’s telecommunications market”. The conso...
