To Reach Millennial Customers, This Kenyan Telecom Giant Tried Shopping Like Them
Wednesday, September 14, 2016
For the last 16 years Safaricom, Kenya’s largest publicly traded company and East Africa’s largest telecom, has focused on signing up more mobile subscribers. With 87% of Kenya’s population already subscribed to mobile phone plans, Safaricom, partly owned by Britain’s Vodafone—along with its newer rivals such as India’s Bharti Airtel or Orange Kenya, partly owned by France’s Orange SA—are now chasing a smaller slice of the pie.
So far, Safaricom is grabbing the most of that slice, with about 25 million subscribers and a market share of almost 70%. Its mobile-money platform, M-pesa, is the world’s largest, with more than $50 billion in transactions a year; it’s used by more than half of Kenyan adults.