Wednesday
August 8
2018

Safaricom Blames Regulator for Underinvestment by Kenyan Rivals

By Bella Genga

Safaricom Plc accused Kenya’s telecommunications regulator of failing to enforce investment requirements for smaller competitors in return for their licenses, meaning the market share of East Africa’s biggest listed company went unchallenged.

Kenyan lawmakers are studying a report by U.K.-based advisory group Analysys Mason that found Safaricom to be a dominant player in mobile money and mobile communications. It recommended the company open up its mobile-money platform known as M-Pesa to transfers from competing services at prices determined by the regulator. It also proposed that the company be broken up if competition doesn’t improve.

Photo courtesy of Neil Palmer.

Source: Bloomberg Technology (link opens in a new window)

Tags
East Africa, fintech, Kenya, M-Pesa, mobile money, regulations, Safaricom, telecommunications