Kenya to Reduce Stake in Safaricom Amid Soaring Debt, Signaling Shift for Telecom and Tech Sectors
Kenya's government aims to raise KSh149 billion ($1.16 billion) by selling stakes in state-owned enterprises, including Safaricom. The government has faced mounting debt servicing costs, paying approximately $5.5 billion in interest from July 2023 to February 2024.
The Next Wave: Rethinking what banks are for
The collapse of Credit Suisse highlights the failures of global banking systems. African banking is still influenced by colonial-era models despite advancements in fintech.
Why Kenyans are using mobile money more but sending less
Mobile money transaction value in Kenya fell by 19.6% from KES 790.8 billion to KES 636.2 billion over the past year. Active mobile money agents increased from 320,182 to 394,853 during the same period.
Safaricom takes on Starlink with aggressive 5G push in rural Kenya
Safaricom has slashed router prices from KES 25,000 ($192) to KES 3,000 ($23) to make 5G more accessible. The company is targeting upcountry users with affordable, plug-and-play 5G routers bundled with flexible data plans.
Safaricom Launches Second Phase of Spark Accelerator to Support Early-Stage Startups in Kenya
Safaricom has announced the launch of applications for the second phase of the Spark Accelerator Programme. The program is designed to assist early-stage startups in Kenya with resources, mentorship, and funding access.
