Monday, January 26, 2009

Yes to Mpesa no Zain (Zap) = what gives?

Friday's simultaneous announcements that CBK had given Mpesa a clean bill of health but also denied Zain to start an almost similar type of business is a little strange. Firstly, I am grateful that common sense has prevailed on Mpesa. Banks must get into the service either in collaboration with Mpesa or on their own and stop whining about a competitor.
On Zain, yes its offering additional services like withdrawals; paying of bills (doesn't Mpesa offer this?) and transferring cash between bank accounts, but why deny Zain the licence? Won't it have been better to offer it a licence with level of regulation than say Mpesa? Kenya needs this business! Btw, why does Zain have to keep changing names, its products every few months?

I doubt if Nd'ung'u has any inkling of how the NSE works, because if he did, Safcom will be very grateful for his actions. Last week's announcement that it was going back into the market for more lending drove its share to Ksh3. These two will restore some upward momentum.

Coming after nani unceremoniously reappointed "I would rather die than resign" despite the Cockar report, its embarrassing to watch Rao in this poorly shot piece. Is he saying Grand Coalition is not incorrigibly corrupt or Ruto is not a looter? Do politicians live in their own insular worlds?


odegle said...

The two products are very different in terms of modes of operation.

MainaT said...

Od, I agree, but why didn't CBK just give Zap a different and more tightly regulated licence?

coldtusker said...

OD: CBK is making excuses to bolster SafCon of which 5% belongs to crooks in the current & former government.