Kenya’s Equity Bank challenges M-Pesa; targets 5M subs by year-end

Kenya’s Equity Bank launched a payment and telecoms MVNO, in a move that challenges incumbent Safaricom and its M-Pesa offering. The new venture, which is called Equitel, offers a range of banking services such as loans, cross-border transfers, insurance and investment. …

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Safaricom, Airtel to settle MPesa trademark dispute out of court

Safaricom and smaller rival Airtel Kenya agreed to end a trademark dispute relating to the M-Pesa logo, said the Daily Nation. Earlier this month Safaricom, Kenya’s dominant operator, sued Airtel for using a trademark it claimed was identical to its …

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SimbaPay claims first with M-Pesa-linked service

Mobile remittance firm SimbaPay launched a service that enables Kenyans living abroad to make bill payments using the popular M-Pesa money service back home. M-Pesa PayBill, which previously has only been available to M-Pesa subscribers in Kenya, allows subscribers to …

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Kenya’s KCB signs up nearly 2M mobile loan users

A mobile phone-based loan launched in early March this year attracted 1.8 million customers for Kenya’s largest bank KCB, its CFO told Reuters. The bank is on target for 10 million users for its KCB M-Pesa service within a year, …

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India is only a small contributor to Vodafone’s 20M money base

India is arguably Vodafone’s largest potential market for mobile money but the operator is shy of 400,000 active users. According to the group’s 2014/15 results, the operator has a nationwide network of 89,000 agents offering its M-Pesa service in India …

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Mobile money, data services lift Safaricom

Mobile money pioneer Safaricom reported a highly respectable 13 per cent revenue growth in the year to-end March 2015, thanks to the soaring contribution of non-voice service revenue including MPesa. The Kenyan operator, in which Vodafone holds a 40 per …

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M-Pesa goes cross-border for the first time

Subscribers to M-Pesa in two of the world’s leading mobile money markets — Kenya and Tanzania — can now send and receive funds with one another. The money transfer corridor between the two East African countries is a first for …

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Safaricom pitches point-of-sale service for M-Pesa — report

Safaricom is talking to two leading supermarkets in Kenya about becoming agents for its Lipa Na M-Pesa service, according to Business Daily. The supermarkets are Tuskys and Nakumatt. The operator is already piloting the service at three Tuskys stores and …

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Essar sells Kenyan operation yuMobile

Investment fund Essar Group has reached an agreement to offload its Kenyan telecom business to African carriers Safaricom and Airtel for $120m.