Riding on its success as the first mobile service provider in the world to introduce money transfer services under the M-Pesa brand and In just three months, having managed to help clients transfer Ksh500 million ($7.4 million), across Kenya, Safaricom’s parent company Vodafone UK is now looking into launching money remittance from abroad via their mobile network.
Interestingly, I recently noticed that you can buy Safaricom calling cards in some shops in London and send the top-up to somebody back home which they can use within 1 hour of receiving it.
Talk of another great opportunity for the money making machine-that Safaricom has become.
However, the money transfer may be hampered by the inadequacies within the current legal framework in Kenya which does not cater for this service. There is also the issue of stiff competition from the existing money transfer agents.
6 comments:
Safcom will come out on top as the existing providers of the service do so at a premium.With safcom its all about turnover,with small margins.(as Business Daily pointed out recently)
Lol! Where is this that they are selling Safcom calling cards? Newham? Or is it Stratford?
Ssem, somebody has also set-up a website (similar to Mama Mikes) so that Diaspora can sambaza guys back home. Mambo baado.
Michael-no doubt safcom will come on top since they got the finances and its quite convinience for those too busy to keep popping into an agent.
ssembonge-I came across this in Forest Gate(salama shop) and has been going on for sometimes now though the guy said not many people are aware of it or have chosen not to use it yet.
mainat, which website are you refering to? sambazonow.com? has anyone out there tried it yet?
Andy-yes that is one I was referring to. Not that I know of personally. I may give it a shot.
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