Top reasons to attend AfricaCom 2019

What's on at
AfricaCom?

AfricaTech Centre
Stage to feature.

Monday, Oct 14th

Safaricom shares lower on Equity Bank's mobile plans

taisysultrathinsims

Safaricom's share price on Thursday took a knock amid Equity Bank's impending entry into the country's mobile money market.

Safaricom, which is Kenya's largest telecommunications firm with a heavy weighting on the benchmark Nairobi Stock Exchange NSE-20 share index, eased 0.4% lower to 12.50 shillings.

Equity, whose shares rose 2.5% to 50.50 shillings, was licensed by the telecoms regulator earlier this year to open a telecoms services arm.

The bank also plans using ultra thin-SIM technology from Taiwanese company Taisys to deploy its mobile services.

Furthermore, Equity has teamed up with the country's second-largest telecoms firm, the local arm of Bharti Airtel, to offer its service.

Equity, Kenya's biggest lender by depositors, has said it is issuing SIM cards to its 8.7 million customers in preparation for the service.

"Safaricom could be the biggest loser," said Silha Rasugu, a Genghis Capital research analyst.

ALSO ON ITWEB AFRICA

Africa's interest in Bitcoin on the rise Published on 01 October 2019

According to recent research released by cryptocurrency exchange Binance.

Orange, Global Fund unite to mobilise m-health solutions Published on 10 October 2019

Aim to speed up action against AIDS, tuberculosis and malaria.

Liferay announces Liferay Forum Africa's agenda Published on 08 October 2019

Liferay, Inc.has announced the agenda for the first Liferay Forum Africa.