mobile money
Latest articles about mobile money in African payments and fintech
PawaPay CEO Warns African Mobile Money Growth at Risk from Regulatory Hurdles
PawaPay's CEO has highlighted regulatory uncertainty as a major challenge for mobile money growth in Africa, as various countries pursue different approaches to payments modernization. The warning comes as Ghana admits six fintechs to its regulatory sandbox for virtual assets, while other nations like DRC prepare to launch new payments infrastructure.
Safaricom Clarifies Automatic M-PESA Health Deductions Amid User Concerns
Safaricom has clarified the mechanism behind automatic health levy deductions from M-PESA wallets, confirming these are conducted without PIN authentication as part of a government mandate. The development comes amid Safaricom's continued dominance of Kenya's mobile money sector, recently evidenced by a Central Bank-approved $1.6 billion stake transaction.
Safaricom Launches Shiriki Pay for Controlled M-PESA Sharing
Safaricom has launched Shiriki Pay, a new M-PESA feature enabling controlled sharing of mobile money accounts with multiple users. The service allows primary account holders to set spending limits and monitor transactions, marking a significant expansion of M-PESA's functionality in Kenya's mobile money market.
Kenya Central Bank Approves $1.6bn Safaricom Stake Sale
Kenya's Central Bank has approved a $1.6 billion stake sale in Safaricom, as the telecom giant expands its digital payment services. The approval coincides with Safaricom's launch of new M-PESA features and comes amid increasing competition in the mobile money sector.