East Africa’s biggest company Safaricom Plc sees no compelling case for splitting its mobile-money service M-Pesa into a separate unit under a new group holding structure planned for 2025.
The service that accounts for nearly half of company revenue will remain in the same business as data, voice and messaging, according to Chief Executive Officer Peter Ndegwa. Kenya’s government, which holds slightly more than a third of Safaricom’s shareholding, is not pushing for a separation, he said in an interview in the capital, Nairobi.
FAQs
Suspension, Termination & Freezing
Safaricom reserves the right at its sole discretion to suspend or terminate the agreement if you use the MPESA account for unauthorized purposes.
What is the organizational structure of Safaricom? ›
The constitution of the company's board is stipulated by the company's Articles of Association. It comprises of 10 directors of whom nine are non-executive directors and one is an executive director.
Is Safaricom separating from M-PESA? ›
East Africa's biggest company Safaricom Plc sees no compelling case for splitting its mobile-money service M-Pesa into a separate unit under a new group holding structure planned for 2025.
What is the maximum amount you can have in your M-Pesa account? ›
Safaricom (NSE: SCOM) is set to increase M-PESA account limits to KSh. 500,000 following approval from the Central Bank of Kenya. The higher account limit will be effective from Tuesday 15th August 2023 for all M-PESA customers.
What aRE the 4 pillars of Safaricom? ›
It comprises four key pillars – purpose, customer obsession, collaboration and innovation.
WhO is the owner of Mpesa? ›
Safaricom confirmed that it now holds 100% ownership of M-Pesa, a company that manages billions of Kenyan shillings in customer deposits. This acquisition establishes M-Pesa as a fully owned subsidiary of Safaricom.
How much is the CEO of Safaricom paid? ›
Safaricom's CEO is Peter Ndegwa, appointed in Apr 2020, has a tenure of 4.33 years. total yearly compensation is KES252. 30M, comprised of 37.4% salary and 62.6% bonuses, including company stock and options. directly owns 0.002% of the company's shares, worth KES13.
WhO is the real owner of Safaricom? ›
Our shareholding structure changed during the year and is currently comprised of the Government of Kenya (35 per cent), Vodacom (35 per cent), Vodafone (5 per cent) and free float (25 per cent). * Company holds an indirect interest in Safaricom through a wholly-owned subsidiary, Vodafone Kenya Ltd (VKL).
WhO is the CEO of Safaricom now? ›
Is Safaricom the biggest company in Kenya? ›
In 2023, Safaricom ranked as the largest company in Kenya according to revenue. The telecommunications enterprise recorded approximately 2.5 billion U.S. dollars in revenue. East African Breweries and Equity Group Holdings followed, with revenues of around 921 and 758 million U.S. dollars, respectively.
The move comes after Safaricom took control of M-Pesa Holding Company Limited —the firm that holds the cash powering its mobile money service— from London-based Vodafone Group Plc which is its ultimate parent company.
Why did M-Pesa fail? ›
Trying to launch the same M-Pesa product in SA and Kenya "was a terrible idea", according to an analyst. Analysts believe M-Pesa failed in SA because Vodacom did not take into account the major differences between the Kenyan and South African markets.
Is M-Pesa in the USA? ›
No, M-Pesa is not available in the USA, only in Kenya and several other African countries. However, sending money from the USA to somebody's M-Pesa wallet in Kenya is still possible. Use Remitly, which almost always offers the cheapest exchange rates for these transfers!
Can mpesa account be suspended? ›
You acknowledge that Safaricom may be compelled by law to suspend and/or freeze your Account or decline to execute your Transaction requests if there are reasonable grounds to suspect that an Account has been or is being or may be used to receive or send funds in connection with any criminal or fraudulent activity.
Why is my mpesa app saying suspicious activity? ›
Other signs that your account has been compromised include receiving notifications about unusual transactions, being unable to access your account, or receiving a message that your account has been locked due to suspicious activity.
What is the reason for M-Pesa suspension? ›
Violation of terms and conditions
Using your M-PESA account for purposes other than those intended, such as for money laundering or illegal betting, can result in suspension. Providing false information during account registration or in subsequent updates can lead to your account being suspended.
Why is my Mpesa refusing to send money? ›
I am begging you understand this. If you're having trouble sending money via M-Pesa due to network issues, there are a few things you can try to rectify this:Check your network signal: Ensure your phone is getting a good signal from your mobile network. You might need to move to an area with better coverage.
