mmnjug™ Profile picture
24 Nov, 9 tweets, 3 min read
Businesses will soon be able to advertise on the M-Pesa app as @SafaricomPLC upgrades the mobile money platform to offer more capabilities beyond payments and cash transfers. - @BD_Africa
The move will open a new revenue line for @SafaricomPLC besides enhancing the attractiveness of the financial service. It will be following other technology firms like Amazon which offers advertising as part of its online retail business.
The planned advertising feature comes after the telco’s parent company @Vodacom Group signed an agreement with China’s Ant Group which runs the popular mobile and online payment platform Alipay that has more than one billion users.
Vodacom is implementing the Alipay app in South Africa and some of its features such as advertising will be built into the M-Pesa platform for rollout in Kenya and Tanzania.
The full Alipay app has a wide range of capabilities ranging from financial services, entertainment, shopping, merchant services and direct marketing.
Most of these features are best suited for smartphones, with Vodacom saying it will use the learning experience in South Africa that has greater uptake of the high-end phones.
For @SafaricomPLC, advertising will be the latest expansion of the M-Pesa service which has grown to become its single biggest revenue earner.
Started as a person-to-person cash transfer service, the platform has now grown to offer payments, credit, international remittances and business analysis and support.
Businesses will now advertise on @SafaricomPLC's MPesa App in a new upgrade by @BD_Africa


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More from @mmnjug

25 Nov
You can own a parcel of land for as low as Sh40,000 per acre. - @NationAfrica
You won't be required to pay all the money at once and can opt for the installments program, through which you will pay a deposit of Sh10,000 and settle the remaining Sh30,000 within three months, and without incurring additional interest," the advertisement says.
This is one of the tantalising offers that land selling companies are dangling to Kenyans hungry for land. Tens and tens of land-selling companies have mushroomed across the country and are luring unsuspecting Kenyans to 'own' land at very low prices.
Read 22 tweets
24 Nov
.@SafaricomPLC plans to take #Fuliza to businesses and is awaiting approval before rolling out #FulizaforBusiness in what will be an improvement on the current product, which is only open to individual subscribers registered as M-Pesa users. - @StandardKenya
#Fuliza and overdraft facility allows customers to access unsecured credit by overdrawing on M-Pesa to cover short-term cash flow shortfalls, subject to predetermined limits.
M-Pesa Africa Managing Director @Sitoyo Lopokoiyit said in a recent call with investors and financial analysts that #FulizaforBusiness is among the products @SafaricomPLC is seeking regulatory nod for, including a phone-based wealth management product named #Mali.
Read 17 tweets
24 Nov
Home loan borrowers could get better terms after the competition watchdog @CAK_Kenya directed 12 banks to revise their terms and conditions, citing hidden charges or skewed contracts against their clients. - @BD_Africa
The @CAK_Kenya reviewed home loan contracts for 27 banks and found the information provided to consumers by 12 of them was incomplete, unclear, and unfavourable.
The anti-trust body found that @KCBGroup @NCBABankKenya @AbsaKenya DIB Bank Kenya, Mayfair Bank, @consolidatedBK, Victoria Commercial Bank and @bankofbaroda were some of the lenders with unfair mortgage contracts.
Read 17 tweets
23 Nov
Kenyan Banks have been listed on Africa’s top 100 top 100 banks by tier 1 capital conducted by the Africa Business Magazine. @KeEquityBank was the highest ranked Kenyan bank in the report. - @HapaKenya
.@KeEquityBank climbed three places to position 24 following a 27% increase in its capital to Kes157B ($1.4 billion) in the 2021 Q3 financial results. Image
The Africa Business Magazine noted @KeEquityBank's continued expansion in the regional market including the recent foray into the Democratic Republic of Congo (DRC). This is with the merger of Equity Bank Congo (EBC) and Banque Commerciale du Congo (BCDC) to form @EquityBCDC.
Read 10 tweets
23 Nov
.@SafaricomPLC customers can now buy airtime through the telco’s overdraft facility Fuliza which was launched in 2019 to address the issue of failed transactions on M-Pesa. - @BD_Africa
It will enable users access significantly larger airtime amounts than they currently can through Okoa Jahazi.
This marks a significant expansion of the overdraft by the telco which has quickly become one of the largest money-makers for the company since its launch in early 2019.
The service is an alternative to the credit overdraft facility Okoa Jahazi that allows users to borrow airtime when their balance reaches below Sh5 and are charged a facility fee of 10% on each round of borrowing.
Read 8 tweets
23 Nov
Retired Chief Justice @dkmaraga joined and rose through the ranks of @Kenyajudiciary as a result of "strong solicitation and constant lobbying", Nairobi-based lawyer @ahmednasirlaw has claimed. - @NationAfrica
In his response to a defamation suit filed by Justice (rtd) Maraga over a Sh220 million bribe allegedly given to a Supreme Court judge, the lawyer says the retired CJ has a history of soliciting favours.
Mr Abdullahi, a senior counsel, has neither named the judge who received the bribe during Maraga's tenure as CJ nor the case at the centre of the bribery.
Read 12 tweets

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