Battle: Dar es Salaam vs Nairobi

Battle: Dar es Salaam vs Nairobi

Geza Ulole said:
Mpesa si kampuni ya Mkunya!
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Incase you were not aware.

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Teargass said:
Kama hujui kitu Sema uchanuliwe. The company is called M-PESA HOLDING CO. LTD.

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Vodacom and Safaricom joint venture to accelerate M-Pesa expansion​

image

6 Apr 2020Technology news
4 minute read

Vodacom and Safaricom announce that they have completed the acquisition of the M-PESA brand, product development and support services from Vodafone through a newly-created joint venture.

The transaction, which was first announced in 2019, will accelerate M-PESA’s growth in Africa by giving both Vodacom and Safaricom full control of the M-PESA brand, product development and support services as well as the opportunity to expand M-PESA into new African markets.

Shameel Joosub, Vodacom Group CEO, said: “This is a significant milestone for Vodacom as it will accelerate our financial services aspirations in Africa. Our joint venture will allow Vodacom and Safaricom to drive the next generation of the M-PESA platform – an intelligent, cloud-based platform for the smartphone age. It will also help us to promote greater financial inclusion and help bridge the digital divide within the communities in which we operate.”

Michael Joseph, outgoing Safaricom CEO said: “For Safaricom, we’re excited that the management, support and development of the M-Pesa platform has now been relocated to Kenya, where the journey to transform the world of mobile payments began 13 years ago. This new partnership with Vodacom will allow us to consolidate our platform development, synchronise more closely our product roadmaps, and improve our operational capabilities into a single, fully converged Centre of Excellence.”

Nick Read, Vodafone Group’s CEO, said: “M-PESA is hugely successful and enables millions of unbanked people in Africa to transfer money, pay bills and trade. It benefits communities and helps create a multitude of small and micro-business ventures. However, with the rapid increase in smartphone penetration, the evolution into financial services and the potential for geographical expansion, we believe the next step in M-PESA’s African growth will be more effectively overseen by Vodacom and Safaricom.”

M-PESA is the largest payments platform on the African continent, it has 40 million users and processes over a billion transactions every month. M-PESA is operational in Kenya, Tanzania, Lesotho, Democratic Republic of Congo, Ghana, Mozambique and Egypt. Currently around 25% of all M-PESA customers have access to a smartphone – a figure that is growing by 10% every year.

The disposal of the M-PESA brand, support and product development services to Vodacom and Safaricom is broadly financially neutral for Vodafone Group.

www.vodafone.com

Vodacom and Safaricom to accelerate M-Pesa expansion

Vodacom and Safaricom announce that they have completed the acquisition of M-PESA.
www.vodafone.com www.vodafone.com
 
Geza Ulole said:

Vodacom and Safaricom joint venture to accelerate M-Pesa expansion​

image

6 Apr 2020Technology news
4 minute read

Vodacom and Safaricom announce that they have completed the acquisition of the M-PESA brand, product development and support services from Vodafone through a newly-created joint venture.

The transaction, which was first announced in 2019, will accelerate M-PESA’s growth in Africa by giving both Vodacom and Safaricom full control of the M-PESA brand, product development and support services as well as the opportunity to expand M-PESA into new African markets.

Shameel Joosub, Vodacom Group CEO, said: “This is a significant milestone for Vodacom as it will accelerate our financial services aspirations in Africa. Our joint venture will allow Vodacom and Safaricom to drive the next generation of the M-PESA platform – an intelligent, cloud-based platform for the smartphone age. It will also help us to promote greater financial inclusion and help bridge the digital divide within the communities in which we operate.”

Michael Joseph, outgoing Safaricom CEO said: “For Safaricom, we’re excited that the management, support and development of the M-Pesa platform has now been relocated to Kenya, where the journey to transform the world of mobile payments began 13 years ago. This new partnership with Vodacom will allow us to consolidate our platform development, synchronise more closely our product roadmaps, and improve our operational capabilities into a single, fully converged Centre of Excellence.”

Nick Read, Vodafone Group’s CEO, said: “M-PESA is hugely successful and enables millions of unbanked people in Africa to transfer money, pay bills and trade. It benefits communities and helps create a multitude of small and micro-business ventures. However, with the rapid increase in smartphone penetration, the evolution into financial services and the potential for geographical expansion, we believe the next step in M-PESA’s African growth will be more effectively overseen by Vodacom and Safaricom.”

M-PESA is the largest payments platform on the African continent, it has 40 million users and processes over a billion transactions every month. M-PESA is operational in Kenya, Tanzania, Lesotho, Democratic Republic of Congo, Ghana, Mozambique and Egypt. Currently around 25% of all M-PESA customers have access to a smartphone – a figure that is growing by 10% every year.

The disposal of the M-PESA brand, support and product development services to Vodacom and Safaricom is broadly financially neutral for Vodafone Group.

www.vodafone.com

Vodacom and Safaricom to accelerate M-Pesa expansion

Vodacom and Safaricom announce that they have completed the acquisition of M-PESA.
www.vodafone.com www.vodafone.com
Click to expand...
Nakuonyesha latest news ya 2023 lakini wewe na uzee wako unanionyesha outdated news ya 2020. Tumia akili wewe mzee.
 

Seruji Ltd to sell Savannah Cement stake to Mauritian firm​

Business
By Macharia Kamau
| 2yrs ago | 2 min read

HZX79mDYDWoGZQZjrpxF0bNQuQOeRqOCw0csbYLd.jpg


Savannah Cement Plant at Athi River. [File, Standard]

A Mauritian firm is set to acquire a controlling stake in local cement producer Savannah Cement.

Barak Asset Recovery Limited has started the process of acquiring a 60 per cent stake in Savannah Cement that is owned by Seruji Ltd, a company associated with Kenyan businessman Benson Ndeta.

Barak Asset is registered in Mauritius and also has operations in Seychelles. In filings made at the Comesa
Competition Commission as the firms seek regulatory approvals for the deal, the firm described its principal business as investment holding. Seruji is also registered in Mauritius.

The firm said it would give Savannah a new breath of life by restructuring the company that has recently posted poor financial performance and setting it again on a growth trajectory.

"The proposed transaction entails the acquisition of 100 per cent of the shares in Seruji by Barak Assets. The parties have submitted that Barak Assets hopes to restructure and grow the business of Savannah Cement which has experienced poor financial performance in the recent past," said the CCC in a public notice. The competition watchdog is set to consider the application by the companies.

Savanah has reportedly been experiencing financial difficulties in the recent past. These were said to have seen the company halt production of cement at its Athi River plant for some time in the course of the second half of 2021.

The company, however, said the disruptions over the period were due to clinker shortage, whose imports had been affected by the hiccups in the global logistics experienced due to Covid-19. It added that the situation had normalised by the start of this year.

"Seruji owns 60 per cent of the issued share capital of Savannah Cement Limited ("Savannah Cement"), a private company limited by shares and incorporated under the laws of Kenya, which carries on the business of manufacturing and sale of cement in Kenya and which it also exports to other member states. In the Common Market, the target is active in the Democratic Republic of Congo, Kenya, and Mauritius," said CCC.

Seruji emerged as the biggest shareholder in 2015 after it acquired a combined 60 per cent shareholding previously held by two Chinese firms at a $25 million (Sh3 billion at today's exchange rate.

The two Chinese investors, Wanho International (owning 40 per cent) and ACME (20 per cent), were among the pioneer shareholders in Savannah Cement.

Savannah Heights, a firm owned by local businessmen, owns the remaining 40 per cent.

Seruji's acquisition of the shareholding by Chinese firm set off ownership wrangles, with Savannah Heights then arguing that it had the right of first refusal and the Chinese investors were obligated to give Savannah the first opportunity to buy them out. The matter has been subject to a lengthy court case.

Savannah Cement started production in 2012 and has over the decade been able to claw market share from the old boys of Kenya's cement production.

www.standardmedia.co.ke

Seruji Ltd to sell Savannah Cement stake to Mauritian firm

Seruji, owned by tycoon Benson Ndeta, has a 60 per cent stake worth Sh3 billion. The cement maker is said to have been under financial strain in the recent past.
www.standardmedia.co.ke www.standardmedia.co.ke

MY TAKE
Is this the same company that tried to block Tanzania's Amsons as it was competing to acquire Bamburi cement? Now it is on sale! Kenya ni nchi ya kipumbavu sana unaona Kenyatta anamkosoa Ruto sababu si ati ana uchungu na wananchi bali ana uchungu Ruto anaruhusu fair competition inayo-challenge biashara za familia ya Kenyatta!
 
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