Safaricom shareholders have given their approval for the establishment of two new subsidiaries — one dedicated to investing in seed-stage start-ups and another focused-on growth-stage start-ups. The approval, which took place during Safaricom's 15th Annual General Meeting (AGM), represents a significant milestone in supporting tech entrepreneurs and strengthening Safaricom's role as a key enabler of the Kenyan tech community.

Read more: Safaricom Shareholders Approve New Subsidiaries to Support Tech Start-ups

Kenya’s telecommunications giant, Safaricom, is gearing up to venture into the satellite Internet arena to compete with SpaceX's Starlink, which has plans to launch its services in the country. In collaboration with AST SpaceMobile, a direct rival to Starlink, Safaricom aims to enhance its broadband services, including Wi-Fi, cellular networks and fiber optic cables, by leveraging AST SpaceMobile's satellite Internet technology.

Read more: Safaricom Prepares to Launch Satellite-Based Data Services

Airtel Zambia has officially launched its 5G network with a grand event, showcasing the impressive capabilities of their 5G services. The launch allowed guests to experience high-speed network connectivity on smartphones, enjoy virtual reality (VR) experiences, hyper-realistic VR gaming, VR Golf gaming, 8K streaming and much more.

Read more: Airtel Rolls Out 5G Services in Zambia

MTN Rwanda PLC has achieved a significant milestone in Rwanda's telecommunications sector by launching its 4G LTE network. This launch aims to transform Rwanda's digital landscape by offering faster, more affordable and more reliable connectivity to individuals, communities and businesses nationwide.

Read more: MTN Rwanda to Deploy 4G LTE Network Across Country

MTN Group's Chairman, Mcebisi Jonas, emphasized MTN's commitment to expanding its presence and operations in Nigeria during a meeting with Nigeria's President, Bola Ahmed Tinubu. Executives from MTN Group expressed their dedication to investing US$3.5 billion in their Nigerian operations over the next five years. This substantial investment underscores MTN's determination to contribute to Nigeria's growth and development.

Read more: MTN Group Commits to Five-Year Investment in Nigeria

Safaricom M-PESA has partnered with TerraPay, a global payments infrastructure company, to promote financial inclusion through instant borderless payments. The collaboration, facilitated by TerraPay's subsidiary Mobex (Kenya), a licensed Money Remittance Provider, will allow over 30 million M-PESA mobile wallet-holders in Kenya to make real-time payments across all wallets in Bangladesh and Pakistan, with plans for India and Nepal in the near future.

Read more: Safaricom M-PESA to Expand Its Money Transfer Services

Safaricom intends to establish two venture capital firms to expand its presence in Kenya's tech start-up sector and support its future growth. These new entities will be responsible for identifying and nurturing start-ups, as well as investing in scale-ups.

Read more: Safaricom Plans to Boost Investment in Kenyan Tech Startups

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