Category: MPesa
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Ethiopians snub money transfers, use M-Pesa to buy airtime, data
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While Kenyans use M-Pesa to send and receive cash and pay for goods and services, Ethiopians have taken a different tack. Safaricom expected rapid adoption in a cash-based economy with low credit card penetration and many rural markets needing connectivity. Instead, Ethiopians mainly use M-Pesa to buy airtime and data,…
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More than 8,300 agents ditch M-Pesa on restricted till location
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Safaricom’s M-Pesa has recorded its first-ever decline in the number of agents after introducing a new policy that secures accesses to specific sites to combat fraud. Under a concept known as geo-locking, Safaricom only allows M-Pesa agents to operate fields within specified geographic locations. This means that if the operator…
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More than 8,300 agents ditch M-Pesa on restricted till location
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Safaricom’s M-Pesa has recorded its first-ever decline in the number of agents after introducing a new policy that secures accesses to specific sites to combat fraud. Under a concept known as geo-locking, Safaricom only allows M-Pesa agents to operate fields within specified geographic locations. This means that if the operator…
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M-Pesa paybills to become KRA tax registers by December 25
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Mobile payment bills and number accounts will be converted into electronic tax records (ETRs) from the end of December to weed out tax evaders and boost revenue by billions of shillings, President William Ruto’s senior economic advisor has said. Musa Kuria, former Cabinet Secretary, said there are plans to declare…
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Vodafone books Sh5bn loss from M-Pesa cash firm sale
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British multinational Vodafone said it recorded a loss of €37 million (Sh5.1 billion) from the sale of the company that holds M-Pesa funds to Safaricom for a symbolic price of $1 (Sh128). The loss represents the transfer of a valuable subsidiary – M-Pesa Holding Company Limited – for almost nothing…
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M-Pesa relief as big car owners hit in Sh347bn new taxes
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The Treasury has removed the Sh100,000 cap on the proposed car tax as it seeks to raise an additional Sh346.7 billion from the new tax measures in the next financial year, even as mobile money users avoid higher toll charges on motor vehicles. the cars. Transactions. In his budget speech…
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Safaricom condition throws M-Pesa split push into a spin
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Safaricom has revealed that it will only consider separating its mobile money platform M-Pesa from the rest of its telecommunications business if the move adds value to its investors and customers, signaling a difficult path ahead for the Central Bank of Kenya (CBK) which has been lobbying for the deal.…