Safaricom

MarketsNews

M-PESA revenue surge propels Safaricom half-year profit to Sh34.2 billion

The reintroduction of M-PESA charges, along with the onboarding of more merchants on Lipa Na M-PESA, has increased M-PESA’s contribution to Safaricom’s earnings by 16.5 percent or Kes66.2 billion in the half that ended on September 30. Safaricom reports that business-related payments, such as bill payments and purchases, increased significantly by 40.2 percent or Kes17.6 billion YoY in the same period when M-PESA merchants saw a 22.3 percent uptick to 658,000. Out of the Kes18.3 trillion in transactions processed through M-PESA during this period, Kes 10.1 trillion, or 55.4 percent, were subject to charges, reflecting a 64.3 percent year-on-year increase, according to Safaricom. However, Safaricom…

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EAC & The Horn

New smartphone plant boosts ‘Made in Kenya’ movement

Kenyans can now purchase locally assembled smartphones following the launch of the East Africa Device Assembly Kenya Limited (EADAK), situated in Athi River. This development advances the country’s efforts to enhance manufacturing as part of the “Made in Kenya” initiative, and it is expected to result in cost savings, with locally-made smartphones projected to be 30 percent more affordable than imported ones. President William Ruto presided over the EADAK plant’s inauguration, emphasizing its significant role in advancing his government’s digital highway and transformation agenda. The device assembly plant is a collaborative endeavor involving local Mobile Network Operators Safaricom and Jamii Telecommunications, along with international device

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Brands

OktobaFest’s Sh30 million treat for Gen Z

Kenya Breweries Ltd, the owners of Tusker beer, and Safaricom, have signed a Kes30 million deal to provide connectivity during the upcoming OktobaFest, supporting Gen Z through Safaricom Hook while empowering digital lifestyles through M-PESA. Safaricom Hook is one of the latest offerings from the tech company aimed at nurturing and supporting the aspirations of Gen Z while transforming their lives. During the festival, attendees will have the opportunity to engage with the platform’s three key hooks: technology, career, and culture. “Today’s partnership symbolises the coming together of two iconic Kenyan brands to celebrate our Kenyan identity and leverage our strengths in creating Kenya’s most

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Technology

Escalating cybercrime in Kenya fuels calls for heightened data security

Businesses and government entities have been challenged to prioritize investments in modern technologies that can safeguard sensitive data and vital systems against the ever-evolving landscape of cyber threats. This was the primary call to action following a meeting organised by tech giant Safaricom as part of Cybersecurity Awareness Month.  In a summit held under the theme “Becoming a Cyber Resilient Organization,” over 400 cybersecurity industry leaders and professionals engaged in crucial discussions surrounding the latest cybersecurity trends and the evolution of enterprise networks. “Attackers are constantly working on designing, building, and evolving solutions to bypass or overcome the most advanced cybersecurity solutions. This has created

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In Brief

Kitui to digitize services using myCounty App

Kitui has become the second county in the Eastern region after Makueni to launch the digitisation of its services through Safaricom-backed myCounty App platform. The platform will provide a range of services, including payment options for county services, revenue management systems, a citizen reporting and engagement tool, as well as solutions pertaining to agriculture, health, utility bills, and SME programs. Presently, myCounty app has seen over 400,000 users actively accessing county services across 11 onboarded counties. These counties include Nairobi, Makueni, Kitui, Busia, Samburu, Bomet, Narok, Kilifi, Uasin Gishu, Kajiado, and Elgeyo Marakwet. “Our vision is to enable counties to offer one-stop shop for their services and more

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ClimateTechnology

The making of an eco-friendlier tech industry

Just a few years ago, supply chains were all about getting things done quickly and efficiently. But times have changed. Now, companies are thinking about new challenges, such as the risks linked to climate change, and the urgent need to cut down on carbon emissions. This shift is happening because customers, investors, and employees are all pushing for more transparency and accountability when it comes to sustainability across industries. For telco giant Safaricom, this emphasis on Environmental, Social, and Governance (ESG) practices is not just staying within the company walls; it’s spreading fast into their entire supply chain system. Carbon footprints “We are intentionally working

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