#6: Safaricom - How Kenya’s largest telco drove M-Pesa to become the most successful mobile financial platform in Africa
Afrobility: Africa Tech and BusinessPlay episode
Show notes
Overview: Today we’re going to talk about Safaricom - The largest telecom carrier in Kenya. We’ll discuss its early history, M-Pesa launch, M-Pesa success, attempted M-Pesa global expansion & Safaricom's future outlook
Companies discussed: Safaricom, Vodacom, Vodafone, Telkom, MTN & M-Kopa
Business concepts discussed: Unbanked population, Financial inclusion, Mobile money, Payment platforms, government regulation, global expansion, telco competition, state-owned companies & product launch timing
Conversation highlights:
(00:36) - Kenya context and contrast with other major African countries (01:10) - Safaricom history and ownership structure (03:53) - Safaricom financials and market share (06:58) - M-Pesa background (08:27) - How M-Pesa works (09:45) - M-Pesa ownership - Safaricom, Vodafone and Vodacom (10:15) - How M-Pesa become successful in Kenya (13:50) - M-Pesa’s international expansion (21:20) - M-Pesa in India (24:50) - Safaricom’s other products (Home Internet, M-Kopa solar, Ridesharing, etc) (34:05) - Bankole’s thoughts and overall outlook (37:02) - Olumide’s thoughts and overall outlook (41:17) - Bankole’s recommendations and small wins (45:42) - Olumide’s recommendations and small wins
Olumide’s recommendations & small wins:
Recommendation: Angel (by Jason Calacanis) Recommendation: Angel Investing (by David Rose) Small win: Link to Text Fragment (Chrome extension)
Bankole’s recommendations & small wins:
Recommendation: Burn-In: A Novel of the Real Robotic Revolution Small win: Roam Research
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