Safaricom faces break-up call from Kenyan lawmaker

A Kenyan lawmaker proposed breaking up Safaricom, the country’s biggest telecoms operator, in late February because of its role in providing mobile financial services.

Safaricom, which is 40 percent owned by Britain’s Vodafone, not only has Kenya‘s biggest number of subscribers, it also dominates the country’s thriving mobile-based financial services sector with its innovative M-PESA platform.

M-PESA has been widely hailed as an example of an emerging market successfully adapting a new technology ahead of others and then exporting the idea globally.

Jakoyo Midiwo, the deputy minority leader in Kenya’s national assembly, said he was proposing amendments to laws on banking and communications to force Safaricom to separate M-PESA, which is regulated by the central bank, from telecoms.

Read more: Vodafone’s Safaricom faces break-up call from Kenyan lawmaker| Reuters