MTN has revealed that multinational payment processing company Mastercard is set to acquire a minority share in its fintech division. In their mid-year 2023 group results presentation, MTN announced that Mastercard has entered into a Memorandum of Understanding (MoU) for a minority investment in MTN Group Fintech. The finalization of the agreement is pending the completion of customary due diligence and standard closing conditions.
Airtel Kenya, the second largest mobile operator in the nation in terms of subscribers, has revealed its intentions to invest a minimum of $150 million in the upcoming three years. This substantial investment is aimed at achieving an extensive expansion of its network coverage across the entire country. Ashish Malhotra, the CEO of the company, affirmed that these funds will be channeled towards the establishment of 649 new network sites nationwide. This initiative will elevate the current count from 3,200 to encompass a broad 89% coverage of the entire country.
Safaricom Ethiopia has revealed the introduction of its mobile money service, M-PESA, to Android users within the country. An iOS version is anticipated to be released in the upcoming weeks. This development arrives after the operator obtained a license from the National Bank of Ethiopia, subsequent to a sequence of pilot tests.
Michael Joseph has stepped down from his position as a director on the board of Safaricom PLC.
Safaricom Plc, a leading telecommunications and technology company in Kenya, recently hosted an industry dinner event to foster collaboration and discuss the implementation of a Memorandum of Understanding (MoU) aimed at supporting the government's ambitious digitalization agenda. The event also marked Safaricom's role as a strategic partner for Kenya's 10th Devolution Conference, underscoring its commitment to contribute to the enhancement of citizens' lives through technology and innovation.
Airtel Kenya has announced a positive update for its customers by reducing excise duty rates on its telecommunication services. As part of this change, Airtel Kenya will decrease the excise duty from the current 20% to 15% for voice, data and SMS services, providing cost benefits to its customers. However, the transaction charges for Airtel money services will remain unchanged.
In the first half of 2023, MTN Group achieved resilient results, advanced the company's strategy through collaboration with Mastercard for the MTN fintech business and progressed plans to exit Afghanistan. These accomplishments occurred within a challenging operating environment marked by heightened inflation, weaker local currencies, and regulatory changes across the Group's 19 markets.
MTN Rwandacell PLC and Mobile Money Rwanda Ltd., leading players in Rwanda's telecommunications sector, have achieved a significant milestone by receiving official certification as Data Controllers from the Data Protection and Privacy Office - Rwanda. This esteemed 5-year certification was granted in recognition of their adherence to all necessary requirements, making them the first certified telecom entities in Rwanda.
Telecom Egypt, a prominent player in the telecommunications industry, has announced its operational achievements for the financial period concluding on June 30, 2023. The results were presented in accordance with Egyptian accounting standards, as reflected in the consolidated financial statements.
Cell C has announced the appointment of Melanie Forbes as its new Chief Marketing Officer (CMO), effective August 1, 2023. Forbes brings over 25 years of extensive experience in the Telecommunications, IT and Consumer Electronics industries, having worked with renowned brands such as Philips, NetFlorist (NetActive), Siemens, Nokia (NSN) and, most recently, Vodacom. Her background spans both B2B and B2C markets across various African markets.
