• Home
  • Business News
  • Weekly Reviews
  • Market Reports
Saturday, May 31, 2025
  • Login
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports
  • Global Markets
  • Commodities
  • Corporate News
No Result
View All Result
The Trading Room
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports
  • Global Markets
  • Commodities
  • Corporate News
No Result
View All Result
The Trading Room
No Result
View All Result
Home Corporate News

Vodafone CEO Hints M-pesa Spin-Off and Introduction of the Mobile Service to Other Countries

Leah Wamugu by Leah Wamugu
in Corporate News
Reading Time: 2 mins read
A A
0
Vodafone CEO Nick Read
Share on FacebookShare on Twitter

Vodafone Group Plc has hinted at the possibility of spinning off Mobile Money Service, Mpesa following its huge success, especially during the pandemic.

RELATED POSTS

Equity Group Q1 Profit Falls 4pc to KES 15.4bn

Safaricom to Invest KES 500Mn in Bid to Bolster AI Infrastructure

HF Group Posts Solid Growth as Q1 Pre-tax Profit Soar 112%

Mpesa allows customers to send and receive money on their mobile phones. In the last few years, financial services have grown to include loans, savings and payroll. The service is available in Kenya, Tanzania, Mozambique, Lesotho and the Democratic Republic of Congo.

The mobile money service soared in popularity during the COVID-19 pandemic due to lockdowns, social distancing and no contact recommendations; mobile money became a way of life for many users. Transactions reported grew by 45 per cent in the first quarter of 2020, compared to a similar period in the previous year.

Vodafone Chief Executive Officer Nick Read said it’s logical to keep M-Pesa within the telecommunications group, for now, to maintain benefits like distribution and cementing customer loyalty.

“In the future, there may be opportunities to scale further. At that point, I think we would make the decision as to whether we would want to do anything, let’s say, more inorganically. For now, Vodafone has decided to carve out its financial services activities into a new legal entity to highlight to our investors the size and scale of that business and also offer opportunities to grow it in different ways. Vodafone Chief Executive Officer Nick Read.

Citing the Central Bank of Kenya (CBK), Nick Read said the volume of Mpesa transactions is equivalent to about half of Kenya’s gross domestic product (GDP).

He further added that there is a possibility of Vodafone launching the service in other markets.

Vodafone’s majority-owned South African subsidiary Vodacom Group Ltd. recently partnered with China’s Alibaba Group Holding Ltd. to develop a so-called super-app called VodaPay for new services as users and potential users upgrade to smartphones.

Buy JNews
ADVERTISEMENT

Read also; Safaricom CFO Sateesh Kamath Joins Vodafone Business.

 

Post Views: 995
Tags: M-PesaSafaricom PlcspotlightVodafone
Previous Post

Oil Prices Decline as Rise in COVID-19 Cases Threatens Supply

Next Post

Asian Markets Edge Lower, Hang Seng Index Declines 4% Leading Losses in the Region

Leah Wamugu

Leah Wamugu

Related Posts

Equity Group
Earnings Update

Equity Group Q1 Profit Falls 4pc to KES 15.4bn

by Felix Ochieng
Cynthia Kropac(R) Chief Enterprise Business Officer Safaricom PLC receives H.E. Minister of Communications and Technology in Somalia - Mohamed Adam to the Safaricom Business Booth. Looking on is H.E. Hon. William Kabogo, Cabinet Secretary, Ministry of Information Communication and Digital Economy in Kenya - during the ongoing Connected Africa Summit 2025 Launch.
Corporate News

Safaricom to Invest KES 500Mn in Bid to Bolster AI Infrastructure

by Rennie Odek
HF Group Plc CEO Robert Kibaara
Earnings Update

HF Group Posts Solid Growth as Q1 Pre-tax Profit Soar 112%

by Githere Eddie
Absa Bank Kenya PLC Managing Director, Abdi Mohamed
Earnings Update

Absa Bank Kenya Reports KES 6.2 Billion Net Profit in Q1 2025 Amid Market Challenges

by Felix Ochieng
Next Post
Asian Markets

Asian Markets Edge Lower, Hang Seng Index Declines 4% Leading Losses in the Region

NSE

Market Report; 26 July 2021

Oil Refinery

Oil Prices Edge Higher, Vaccination Outweighs Virus Concerns

Advertisement Banner Advertisement Banner Advertisement Banner
ADVERTISEMENT

Most Viewed Posts

  • Tea Farmers Set to Receive Kes 28 Billion as Final Bonus Payment (4,110)
  • 4 Things You Can Do With the Cashlet App to Achieve Your Financial Goals (2,202)
  • Hilda Njeru Takes over at CDSC (2,070)
  • Safaricom Finally Launches eSIM: Here’s What You Need to Know (1,923)
  • KenGen Gets Nod to Sell 4 Million Tonnes of Carbon Credits (1,809)

Follow Twitter

About Us

Follow Us

Popular Tag

Africa Asian - Pacific Stocks Asian Stock Markets Australian Stocks Bitcoin Bonds Kenya Bonds Trading in Kenya Brent Brent Crude Capital Markets Authority Central Bank of Kenya Corona Virus Pandemic Crude Oil Cryptocurrencies Derivatives NSE Derivatives Trading in Kenya Dow Jones Industrial Average Ethereum European Stock Markets Global Economy Global Markets Hang Seng Index Investing in Kenya Investor Briefing Jakarta Stock Exchange Kenya Economy Kospi index MSCI Index Nairobi Securities Exchange NASDAQ New York Stock Exchange Nikkei N225 NSE Oil Futures S&P 500 Index Safaricom Plc Shanghai Composite Shenzhen component spotlight Stock Market Report Stock Market Review U.S. Stock markets US oil Wall Street WTI Oil Index

Recent News

Equity Group

Equity Group Q1 Profit Falls 4pc to KES 15.4bn

Cynthia Kropac(R) Chief Enterprise Business Officer Safaricom PLC receives H.E. Minister of Communications and Technology in Somalia - Mohamed Adam to the Safaricom Business Booth. Looking on is H.E. Hon. William Kabogo, Cabinet Secretary, Ministry of Information Communication and Digital Economy in Kenya - during the ongoing Connected Africa Summit 2025 Launch.

Safaricom to Invest KES 500Mn in Bid to Bolster AI Infrastructure

  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 The Trading Room Limited.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
TSLA 
$346.46  3.34%  
GME 
$29.80  0.78%  
MSFT 
$460.36  0.37%  
AAPL 
$200.85  0.45%  
AMC 
$3.56  4.09%  
ABNB 
$129.00  0.50%  
GOOGL 
$171.74  0.07%  
AMZN 
$205.01  0.34%  
No Result
View All Result
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports

© 2025 The Trading Room Limited.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?