Sat. Jun 15th, 2019

Kenya Supermarket

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Safaricom and Vodacom Plan to Buy Mpesa Rights

1 min read

Robert Collymore Chief Executive of Kenya's telecom operator Safaricom poses during a Reuters interview at their headquarters in Nairobi, Kenya, May 10, 2017. REUTERS/Baz Ratner

Vodacom (South Africa) and Safaricom (Kenya) are planning to have a joint venture to buy IP rights to Mpesa from Vodafone (United Kingdom).

This plan will still be regulated and approved by both companies in Kenya and South Africa and is intended to be realized this year.

 

Safaricom’s CEO, Bob Collymore, said that the £10.5 million deal will let both parties make significant savings in royalties paid to Vodafone This will also aid in extending the service to new markets and allow Safaricom to easily develop local products.

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