Tuesday
January 16
2018

Growing Success of Telkom and Equitel Could Shift Kenya Mobile Money Dominance Debate

As Kenya waits for the publication of the controversial report on market dominance by the Communications Authority of Kenya (CAK), latest data from the Telecoms regulator shows that rivals can eat into Safaricom’s market share. The total mobile subscriptions recorded by Telkom Kenya jumped by 18.5 per cent to stand at 3.4 million from 2.8 million reported in the previous period, according to the first quarter report covering July and September 2017.

This means Telkom Kenya was able to increase its customer numbers by 600,000 new subscribers in three months.

“This is attributed to the customer acquisition campaign carried out by the service provider following its rebranding in mid-year,” the report by the Communication Authority of Kenya (CA), says in part. This saw the market share of Telkom, which recently rebranded after changing ownership, grow by 1.2 percentage points to stand at 8.4 per cent from 7.2 per cent recorded last quarter.

Another player making inroads in the mobile market is Finserve Africa Ltd, which registered a market share of 4.7 per cent up from 4.6 per cent.

Mobile Pay Ltd and Sema Mobile Services market shares stood at 0.2 per cent and 0.0 per cent respectively.

“Mobile Pay Ltd reported a total of 88,853 subscriptions during the period up from 87,786 subscriptions recorded in the previous period.

Photo courtesy of Neil Palmer.

Source: The Standard Digital (link opens in a new window)

Categories
Finance
Tags
digital payments, financial services, fintech, mobile banking, mobile money, telecommunications