“Kenya’s cellular-phone operators agreed to allow mobile payments across their networks, joining an effort by the central bank to integrate the nation’s payment systems. The first phase of “merchant interoperability” will enable Airtel Networks Kenya Ltd. and Telkom Kenya Ltd. users to pay for goods through Safaricom Plc ’s M-Pesa, the biggest mobile-money platform in the East African country, the three companies said in a statement on Friday.”

“More than half of Kenya’s entire GDP is now transacted on this African fintech app”

“Safaricom is set to reward more than 5000 customers and businesses starting today as the telco celebrates 15 years since the launch of M-PESA. The telco will reward the customers and businesses for sending money or making payments through the M-PESA Super App and M-PESA Business Super App. The winners will be randomly selected and will get back 15 per cent of the transaction value up to a maximum of Sh1,000. The rewards will run till March 22.”

“Kenyan mobile money platform, M-pesa said it has hit the 50 million active users mark in Africa to cement its position as Africa’s largest mobile money platform. This was made known by the M-Pesa Africa managing director, Sitoyo Lopokoiyit in a statement to commemorate the milestone.”

“In Kenya, M-PESA, the mobile money transfer service established in 2007 by Safaricom, is regarded as the first truly successful mobile money service in the world. M-PESA is accredited with introducing financial services to low-income and unemployed persons across the country, unlocking economic opportunities for millions. However, before M-PESA, the Kenyan banking and finance sector was already trying new ideas to improve a rigid financial system to accommodate a changing population.”

“Mobile operator Vodafone Group in a trading update for its Q1 fiscal report has registered a strong growth in Africa. Driven by its financial platform M-PESA, transaction volumes increased by 45% compared to a similar period last year. This translates to about 4.5 billion transactions in Q1 operations.”

“Vodafone Group hinted it could spin off its African mobile money service M-Pesa after its popularity soared through the pandemic. The platform offers peer-to-peer transactions in countries including Kenya, Tanzania, Mozambique, Lesotho. It is now pushing into new financial services like small loans, payroll and savings. Vodafone CEO Nick Read said it’s logical to keep M-Pesa within the telecommunications group for now, to maintain benefits like distribution and cementing customer loyalty.”

“MFS Africa today announces that it has made its entry into Sierra Leone, partnering with Afrimoney, pan-African telecommunications leader Africell’s mobile money service, to enable mobile money users in the country to receive payments from abroad smoothly and affordably…With this partnership in place, mobile transfer operator customers that are connected to the MFS Africa hub – such as MoneyGram, World Remit, and Xoom – can easily send money to mobile wallets in Sierra Leone. With over 320 million mobile wallets connected to MFS Africa’s hub, it provides an array of new cross-border payment possibilities.”

“Ethio Telecom has signed up 4 million Ethiopians for a mobile money service that it launched in May, a document published by the Finance Ministry said, as the government seeks to sell a stake in the state-owned company. The Telebirr service allow users to send and receive money, deposit or take out cash at appointed agents, pay bills and receive cash from abroad, mirroring services that have spread elsewhere in Africa where many people do not have bank accounts. Ethio Telecom launched the service as the government seeks to sell a 40% stake in the company, part of a broader plan to liberalise its largely closed economy. A tender for the stake sale was issued this month.”

“South Africa’s Vodacom Group said on Tuesday about 70 businesses had signed up or committed to the mobile operator’s new digital financial services “super app” that promises to be a one-stop shop for online transactions. Last year Vodacom announced a partnership with digital payments provider Alipay to build an app that would allow consumers in South Africa to shop online, pay bills and send money to family members. Alipay is owned by Ant Financial, the financial affiliate of China’s Alibaba Group Holdings.”

“Kenyan President Uhuru Kenyatta on Tuesday urged Ethiopia to open up its telecoms sector to private mobile money business investors, a move that would complement a process already underway to reform the sector and bring in foreign investment. Ethiopia is opening up its telecoms sector, hitherto a monopoly of the state-owned Ethio Telecom, and last month authorities awarded the first private operator licence. The licence was handed out to a consortium led by Kenya’s Safaricom (SCOM.NR) , Vodafone (VOD.L) , and Japan’s Sumitomo 8053.T. read more Currently though only Ethio Telecom is allowed to offer mobile financial services while foreign operators are barred by law from participating.”

“South Africa’s MTN Group will bid again for an Ethiopia operating telecom licence in the second round if mobile financial services are included, its CEO said on Friday after losing the first round. Mobile financial services is key to MTN’s strategy as it continues to evolve from just providing voice to also providing data, digital services and mobile payment and lending solutions as demand for these services rise.”

“Airtel Kenya has announced its plans to revise its Airtel Money tariff set to take effect from 3rd June 2021. These new adjustments will see charges on cash withdrawals from agents changed with money transaction fees to other networks being adjusted as well. According to Airtel, the new tariff us aimed at getting Airtel customers enjoy reduced cash withdrawal charges across all bands and free transactions while sending money within the Airtel network. Person-to-person money transfer charges to other networks have also been revised.”

“Mobile money is providing a much-needed revenue buffer against disruptions from the coronavirus pandemic for Africa’s big telecoms companies, such as Airtel Africa, MTN and Safaricom. This was evident in the financials for Airtel Africa, which reported this week that revenue from Airtel Africa Money had rebounded from a dip in the initial phase of the pandemic, growing 38.7% in the last quarter. The segment also contributed over 10.6% of the group’s revenue in this period . Airtel Money (Airtel Africa’s fintech arm) offers mobile wallets which allow holders to perform financial transactions on their cellphones.”

“Safaricom Plc of Kenya is holding talks with Amazon.com Inc. about the use of mobile-money service M-Pesa on the e-commerce giant’s platform, part of efforts to expand global reach and bounce back from a first profit decline in a decade. M-Pesa accounts for about a third of Safaricom’s revenue, and East Africa’s largest company sees the financial-technology product as key to future growth. The carrier already has partnerships with a unit of China’s Alibaba Group Holdings Ltd. and Paypal Holdings Inc. Safaricom and Amazon already work together on web services while the Nairobi-based company runs local cloud sales for the U.S. giant, Chief Executive Officer Peter Ndegwa said in response to questions on the latest talks, which were announced alongside full-year earnings Thursday.”

“Safaricom, the largest telecommunications provider in Kenya, saw growth in its money transfer platform M-Pesa as it waived fees for small transactions, in an effort to limit the spread of the coronavirus through in-person payments. Launched in Kenya in 2007, M-Pesa is now available in seven African countries and used for transactions worth $12 billion each month, according to Safaricom CEO Peter Ndegwa.He believes that by encouraging people to use online services, Covid-19 has accelerated connectivity in Africa. Ndegwa recently spoke with CNN’s Eleni Giokos about the impact of the pandemic and how the telecommunications industry can help connect the continent.”

“As a result, MTN, the biggest mobile money operator in Ghana, has introduced a new policy . It requires proof of identity (ID) before a customer can withdraw cash. Valid forms of proof are a driver’s licence, voter’s ID, passport, Social Security and National Insurance Trust ID, National Health Insurance card or Ghana card (national ID). All mobile money agents will have to select the ID type and enter the ID card number presented by the customer before completing the transaction. There are two problems with this: it excludes people from financial services and it encourages the use of cash. There are better ways to address fraud.”