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Luxembourg Firm Invests Sh100m In Microfinancier Musoni

Luxembourg-based private equity (PE) firm Fonds Européen de Financement Solidaire (Fefisol) has invested Sh100 million in Musoni Microfinance Ltd that targets small-scale farmers and the informal sector. The Nairobi-based credit-only lender founded in 2010 on Thursday said the funds will go towards developing financial products that stimulate food production and agri-business. It uses Safaricom’s M-Pesa […]

Wave, a New York-based money transfer firm, has expanded its M-Pesa-linked diaspora remittance services to the United Kingdom. This means that East Africans living in the UK can now use the Wave app to send money directly to Safaricom’s M-Pesa wallets, as well as to Uganda and Ethiopia through MTN mobile money. They can also […]

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International money transfers on Safaricom’s M-Pesa platform grew 64 per cent to Sh13.1 billion in the year ended March after the telco acquired a license from the Central Bank of Kenya (CBK) to offer outward cash remittances. Safaricom launched M-Pesa services in Tanzania in February 2015, followed by Rwanda three months later after receiving a […]

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Safaricom has promised its customers uninterrupted mobile money transfer services following its successful transfer of M-Pesa servers to Kenya and completion of test-runs on Sunday. The company said that they expect minimal service outages with M-Pesa now being hosted locally. It was previously hosted in Germany and was prone to interruptions whenever undersea fibre optic […]

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Global financial services firm SWIFT plans to open a regional hub in Nairobi, with eye on mobile money and the securities market. The Belgium-based company, known mostly for facilitating electronic bank transfers, is hunting for an executive to head the Nairobi regional office, boosting Kenya’s claim to the status of regional financial services hub. SWIFT […]

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