Wednesday, May 25, 2022

Children Without IDs to Be Registered for M-Pesa

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Kenya’s leading telecommunication firm Safaricom has seen its M-Pesa revenue cross the Sh100 billion mark for the first time. 

The firm recorded Sh107.7 billion in revenue for the 2022/21 financial year, up from Sh82.6 billion last year.

Mobile money revenue now accounts for 38.3 percent of Safaricom’s service revenue.

Safaricom Chief Executive Officer Peter Ndegwa said that the firm was in talks with regulator for the launch of MPesa Junior

“This would suggest for once, those without IDs may be able to have MPesa accounts,” he said.

Safaricom also saw its  net profit (excluding Ethiopia) rebound to pre-Covid-19 levels, up 12.2 percent year-on-year, to Sh77 billion.

Its net profit (including Ethiopia) was up a marginal 1.1 percent to Sh69.45 billion. 

Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to editor@kenyanbusinessfeed.com

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