The GSMA recently released data showing that there are over 23 million mobile money subscribers in Kenya which is about 74% of the country’s adult population. Mobile money has rapidly grown from a money transfer system to a payment platform supporting many financial products. The launch of M-PESA in 2007 was a critical breakthrough that
More than 70% of prepaid electricity users prefer to use their mobile phones to buy electricity tokens than any other outlet, a survey conducted by Kenya Power has revealed. M-Pesa is the most popular facility accounting for 95% of all mobile based prepaid purchases. Kenya Power currently has 340,000 customers on prepaid metering system. The
The State Law Office of Kenya has entered into a partnership with Safaricom to automate some of its services. The KSh 14 million contract will see Safriacom providing it’s M-Pesa platform for the payment of services such as registration of companies, societies, or weddings. The announcement was made at an event held at the SLO
President Yoweri Museveni of Uganda has disclosed that government is considering introduction of Islamic banking system in Uganda. The President who was speaking at a dinner he hosted to the Muslim community to mark the end of the Islamic holy month. The dinner was held at State House Entebbe. The President was responding to remarks
The Kenyan government has put forward a plan to have all public sector payments made through the Postal Corporation of Kenya. This was announced at the launch of Posta Pesa, the corporation’s new Sh84 million e-payment platform. In a bid to keep the postal corporation relevant in an increasingly digital era they are hoping to
Regional banking group, Equity Bank’s reduction of interest rates by 700 bps from 25% to 18% has paid off by growing its loan book by Kshs 11 billion to Kshs 150 billion from Kshs 139 billion in the first quarter 2013 resulting in a growth of 21% in Year on Year. The massive reduction in
Ethiopia has emerged as one of the continent’s most exciting new markets, boasting the fastest growing non-energy-based economy in Africa, growing at an average annual rate of 11 percent GDP in recent years. Global’s optimism is supported by the IMF’s projection of Ethiopia as the 3rd fastest growing economy in from 2011 through 2015, trailing
Air Uganda launched a new revamped booking engine, with improved functionality. The new engine which is now live on the Air Uganda Website was unveiled to the press by the air Uganda management team at their headquarters in Kololo. The new platform which was launched in June this year allows customers to search, book and
Kenyatta University has unveiled a new prepaid, PayPass™-enabled card for its alumni body. The KU Alumni Card allows alumni to enjoy discounts with selected partners, ranging from hotels, bookshops and hospitals to insurance companies and mobile phone service providers. The KU Alumni Card allows card holders to transact at over 34 million MasterCard points of
Econet Wireless’ mobile money service, EcoCash, has jumped off the starting blocks registering 31% of Zimbabwe’s adult population in just 18 months. EcoCash accounts already outnumber all of Zimbabwe’s bank accounts combined. How has EcoCash achieved such early success? They have combined effective operational execution with an unusually high degree of investment and organisational focus.
Receive Regular news of the latest in payments straight to your inbox.
