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Mobile money and telco's headed for a divorce.
Your daily dose of Kenyan business & finance news
Kenyan Wall Street
September 30, 2024
Congratulations!
As of midnight tonight, you have officially made it to Q4 2024 - the shortest quarter of the year. The past 9 months have flown by and I’m sure when we are sitting here on December 31st, we will be saying the same thing about this past quarter.
Q3 has seen a lot of the good, the bad, and the ugly. We started the quarter with a country on the fringes of revolution and have seemingly evolved back to the ‘new normal’. But what is new going into Q4?
SHIF goes live tonight and the public still has a million questions on how it works
Adani deal for JKIA remains on hold as special audit takes place
Safaricom & Starlink may form a partnership amidst harsh competition
Israel ramps up the offensive as Muslim nations join hands to call for peace
There’s a lot more new stuff going into Q4 that you need to know…
Continue following our dedicated team of analysts at The Kenyan Wall Street to stay up-to-date without the hassle of a paywall!
📱 Mobile money and telecom companies may need to divorce soon.
If the Information and Communications (Amendment) Bill 2022 continues past the second reading (debate was last week), then telecommunications companies may be forced to split their core business from their mobile money businesses - a move Safaricom isn’t to happy about. The bill seeks to get consumers better services by forcing mobile money providers to obtain a license from the CBK, ensure there is more regulatory scrutiny over how accounts are used, and to better combat anti-competitive (monopolistic) behavior. Dive deeper.
🛢️ Uganda prepares to be Africa’s next great energy producer.
After over two decades of “prospecting, investing, and construction,” Uganda plans to begin pumping oil in 2025. Below Western Uganda lies 6.5 billion barrels of known oil reserves and partnered with East Africa Crude Oil Pipeline (EACOP) running through Tanzania (conveniently avoiding Kenya), Uganda is expected to change its status as a net importer to a net exporter of petroleum. Implications for Kenya.
🦁 KShs 3.8B to fight human-wildlife conflict
The Kenya Wildlife Service (KWS) is facing Ksh19.8 billion deficit to implement its Ksh98.3 billion 2024-2028 strategic plan. According to the plan, KWS will need cumulative Ksh3.8 billion to address the human-wildlife conflict Rising cases of human-wildlife conflict has been rampant recently with residents of Kiambu County’s Juja area losing lives to Hyenas. Does it really cost that much?
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