East Africa

Safaricom reduces M-Pesa charges

AUGUST 202014 DAILY NATION Safaricom has announced it will reduce the fees charged for MPesa transactions as it moves to counter impending competition from Equitys planned mobile virtual network business The new tariffs only apply to persontoperson transactions and will take effect Thursday They entail a 67 per cent reduction on transfers ranging from Sh10 to Sh1500 Charges for sending transfers exceeding Sh1501 have also been streamlined to an average of 08 per cent of the transaction value Safaricom CEO Mr Bob Collymore said that the companys analysis of Mpesa showed that more than 65 per cent of all persontope...[...read more]

Filed Under East Africa

IFC, The MasterCard Foundation and Airtel Money to expand ac

AUGUST 202014 PRESS RELEASE IFC a member of the World Bank Group today announced an advisory services agreement valued at 1 million with Airtel Zambia to increase access to mobile financial services in the Zambian market in order to strengthen financial inclusion In Zambia twothirds of the adult population is excluded from formal financial services A majority of the population has no choice but to rely on cash and informal services for transactions savings and credit at high risk and cost The overall aim of the threeyear project is to assist Airtel Money Zambia in building a sustainable mobile money operation IFC will provide mark...[...read more]

Filed Under East Africa

Rwanda Telecoms Target Cross Border Mobile Money

Dias Nyesiga THE INDEPENDENT AUGUST 202014 Growing competition within the countrys budding and fragile telecom sector in Rwanda is pushing operators to explore cross border mobile money to step up revenues The sector registered a decline in call tariffs that went down by 25 yearon year by December 2013 leading to lower revenues The dwindling revenues from calls are compounded by low internet usage Tigo Rwanda which opened the cross border doors early this year by partnering with its sister company Tigo Tanzania to offer mobile money TIgo cash is achieving early success The launch gave Rwandas second largest operator a competitive ...[...read more]

Filed Under East Africa

Zain launches Sudanís first MFS with Bank of Khartoum

AUGUST 152014 SUDAN VISION In a first of its of partnerships between the banking and telecommunication Zain and Bank of Khartoum celebrated in the launch of Hassa service This service is a new technical mean that allows all mobile phone users to complete almost all financial transactions and operations through this service including money transfers and purchasing different services like paying bills and atm services without the need of opening a usual bank account in any bank The minster of Sciences and Technology DrTahani Abdallah clarified that with Allahs will that this integrated work will be successful because it is the e...[...read more]

Filed Under East Africa

UGANDA:Plan, Airtel launch savings product

AUGUST 152014 The Observer Plan Uganda the Grameen Foundation and Airtel Uganda have partnered to enhance the security of the village savings and loan association VSLA model On Wednesday in Kamuli district the trio launched a product that will allow VSLAs to store their savings using Airtel money The product was made possible by a grant received from the GSMA Women Programme which works with the mobile industry to increase womens use of mobiles According to a 2013 Finscope survey twothirds of adults in Uganda save money through informal groups But while some financial institutions have offered accounts to secure savings and earn i...[...read more]

Filed Under East Africa

African technology expands in Europe

AUGUST 142014 NEW VISION AFRICANS have long used technology developed abroad but now a Kenyan cash transfer network which bypasses banks is being adopted in Europe The MPesa mobile money transfer system which allows clients to send cash with their telephones has transformed how business is done in east Africa and is now spreading to Romania From east Africa to eastern Europe thats quite phenomenal when you think about it Michael Joseph who heads Vodafones Mobile Money business told AFP in the Kenyan capital Nairobi I think that this is something the rest of the world can look at to say that there are ideas that can emanate out ...[...read more]

Filed Under East Africa

Touch Four Pay Spearheads Groundbreaking innovation in Zamb

Touch Four Pay VPSales with Airtel CEO AUGUST 142014 FEATURE ARTICLE Touch4pay is a Zambian company whose aim is to professionally engage in the integration of instant payments IPSS and self service payment cashin kiosks Terminals into the real sector of the Southern African Region Touch4Pay recently joined hands with AIRTEL Zambia to introduce the first ever selfservice payment terminal for Airtel Zambia services such as Airtel Mobile Money and Mobile phone top ups Customers can now make mobile money cash deposits directly into their mobile money wallets by inserting cash into the terminal and receiving their evalue instantly Thi...[...read more]

Filed Under East Africa

Kenyans move Sh1.1trn on mobile phones in 6 months

AUGUST 112014 BUSINESSDAILYAFRICA Kenyan consumers used mobile money services to transfer more than Sh1 trillion in the first six months of the year the latest industry statistics show The new Central Bank of Kenyas CBK report shows the value of mobile payments grew by nearly a third to Sh11 trillion in the first six months of the year compared to Sh8721 billion last year This means that consumers moved an average of Sh1864 billion monthly or Sh62 billion per day compared to the Sh48 billion a day they moved in a similar period last year Kenya has six main mobile money platforms Safaricoms MPesa Airtel Money yuCash Orange Mo...[...read more]

Filed Under East Africa

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