One of the larger holdings in our Africa strategy is Safaricom, the dominant mobile communications provider in Kenya.
Safaricom’s stock has been a very strong performer of late, closing just yesterday at a fresh all time high of 20 Kenyan shillings per share on the Nairobi Securities Exchange.
Safaricom is the purveyor of M-Pesa, a system that enables people to transfer money to one another using their cell phones. ‘M-Pesa’ means mobile money. The “M” is for mobile and “pesa” means money in Swahili. M-Pesa works on even very basic phones, so it has proven to be a very useful tool for a wide swath of people of all income levels to securely transfer and store their funds.
Read more: Africa Capital Group LLC Safaricom & M-Pesa: An African Growth Story – Africa Capital Group LLC
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