Tuesday
May 29
2018

Kenyan regulator could force Safaricom to share agents’ network

By Duncan Miriri

Kenya’s largest telecoms operator Safaricom could be forced to offer rivals access to its transmission sites and its vast network of mobile money outlets if a draft regulatory report on boosting competition in the sector is implemented.

The recommendations are contained in a draft report that the regulator, Communications Authority of Kenya (CA), is finalising, an official from the regulator told Reuters on Monday, declining to say when it would be published.

An earlier version of the report caused a selloff of Safaricom shares when it was leaked in February 2017. That version proposed separating its widely used mobile money business from its telecoms unit due to its dominant size.

Safaricom, which is 35 percent owned by South Africa’s Vodacom, controls 72 percent of Kenya’s mobile market, with close to 30 million subscribers.

Photo courtesy of Neil Palmer.

Source: Reuters (link opens in a new window)

Categories
Finance
Tags
fintech, mobile money, regulations, telecommunications