Published January 29, 2013
Kenyan banks struggle to break Safaricom’s mobile banking space monopoly
A lack of specific financial regulations governing telecommunication operators has contributed to m-Pesa’s explosive growth.
Date: Jan 29, 2013
Categories: Mobile Banking, Retail Banking, Retail Payments
Keywords: m-Pesa, P2P Payments, Safaricom, Vodafone, M-Shwari, e-float, John Staley, Equity Bank
In Kenya, mobile banking has exploded in growth since the roll-out of m-Pesa in March 2007. The creation of m-Pesa was significant in that it was hatched not from the banking industry but between telecommunication…