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Safaricom HY2013 Profit before tax up 113%
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ProverB
#201 Posted : Monday, December 10, 2012 8:46:40 AM
Rank: Veteran

Joined: 3/12/2010
Posts: 1,199
Location: Eastlander


Something about m-shwari and the potential it holds

Former CEO Michael Joseph. Fireside Chat,iHub. 2010 wrote:

"..retail banking will disappear in 10 years time. Customers will not go there (to brick & mortar branches) except for loans, as ordinary banking will be on mobile phone whose convenience is unprecedented.."


http://www.bankelele.co.ke/

Plus, this one move has made doubting Thomas(es) reconsider Viability of Bob Collymore as a successor to enhance what MJ had begun. I guess it's quite good that He is following through with the plans and dreams MJ had for safcon.

It would be nice to know calibre of big volume buyers on this counter.

#Alternative banking taking shape. Nice.
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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  | | Edit by user: Monday, December 10, 2012 8:48 AM | Reason: Not specified
hisah
#202 Posted : Thursday, December 13, 2012 5:53:24 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Cash transfers to get taxed - http://www.businessdaily...6/-/em5qae/-/index.html

Mobile money to get slapped with 10% excise duty while mitumba clothes get an import duty reduction...

What is KE promoting? A mitumba economy...

Why slam the brakes on mobile money just to support blotted gubberment spending? KE econ needs stimulus and money velocity offered by mobile money to fasten development. SMH... d'oh!
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Thursday, December 13, 2012 5:55 AM | Reason: Not specified
hisah
#203 Posted : Thursday, December 13, 2012 4:42:21 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Safaricom denies infringement claims over banking platform M-Shwari - http://www.businessdaily...8/-/yjg3h7/-/index.html

Quote:
“Safaricom Ltd seeks to clarify that M-Shwari is a proprietary product of Safaricom Limited which is the successful result of a 2-year product development process,” the mobile firm noted in a statement sent to media houses.

“While the allegations are lamentable and unfortunate, Safaricom will seek to have the matter resolved through the right legal processes and we believe that this law suit is tainted with malice because it is founded on untrue allegations.”
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#204 Posted : Friday, December 14, 2012 7:25:52 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Airtel pays $400K as interconnection fees per month. Also quite disappointing is it doesn't view mobile money as a critical business for now! They pay agents via the transaction fees and retain nothing! They'd rather concentrate on churning voice customers from rival operators. It is also behind the curve in data business, but wants to concentrate more on acquiring those hopping voice clients. IMHO someone has lost the plot here. We will see if by 2015 they'll have broken even as they say with the peculiar KE subscriber. Buying their loyalty is no mean feat.

http://www.businessdaily...20/-/3ega1a/-/index.html
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Friday, December 14, 2012 7:27 AM | Reason: Not specified
Mukiri
#205 Posted : Friday, December 14, 2012 11:33:36 AM
Rank: Elder

Joined: 7/11/2012
Posts: 5,222
hisah wrote:
Cash transfers to get taxed - http://www.businessdaily...6/-/em5qae/-/index.html

Mobile money to get slapped with 10% excise duty while mitumba clothes get an import duty reduction...

What is KE promoting? A mitumba economy...

Why slam the brakes on mobile money just to support blotted gubberment spending? KE econ needs stimulus and money velocity offered by mobile money to fasten development. SMH... d'oh!


Greedy uncaring politiciansSad I think this country needs an economic advisory board. Something like LSK

Proverbs 19:21
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2012
#206 Posted : Friday, December 14, 2012 11:41:58 AM
Rank: Elder

Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
Whatever happened to M-Kesho?
King James seems to have lost the most lucrative business deal of the year to the Kenyatta's CBA.

BBI will solve it :)
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selah
#207 Posted : Friday, December 14, 2012 11:59:40 AM
Rank: Elder

Joined: 10/13/2009
Posts: 1,950
Location: in kenya
2012 wrote:
Whatever happened to M-Kesho?
King James seems to have lost the most lucrative business deal of the year to the Kenyatta's CBA.


CBA has been holding Mpesa cash in trust...they are the ones who offered Mpesa Guarantee to get CBK approval...(That's according to the new CBA CEO in an interview on K24)

IMHO CBA has been milking from Mpesa since its inception....the new solution is just an extension of the relationship.
'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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nakujua
#208 Posted : Friday, December 14, 2012 12:11:34 PM
Rank: Elder

Joined: 12/17/2009
Posts: 3,583
Location: Kenya
hisah wrote:
Cash transfers to get taxed - http://www.businessdaily...6/-/em5qae/-/index.html

Mobile money to get slapped with 10% excise duty while mitumba clothes get an import duty reduction...

What is KE promoting? A mitumba economy...

Why slam the brakes on mobile money just to support blotted gubberment spending? KE econ needs stimulus and money velocity offered by mobile money to fasten development. SMH... d'oh!


I see no problem with a mitumba economy, pluse the excise duty wont stop or slow down the mobile money transfer business
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hisah
#209 Posted : Friday, December 14, 2012 12:47:04 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
nakujua wrote:
hisah wrote:
Cash transfers to get taxed - http://www.businessdaily...6/-/em5qae/-/index.html

Mobile money to get slapped with 10% excise duty while mitumba clothes get an import duty reduction...

What is KE promoting? A mitumba economy...

Why slam the brakes on mobile money just to support blotted gubberment spending? KE econ needs stimulus and money velocity offered by mobile money to fasten development. SMH... d'oh!


I see no problem with a mitumba economy, pluse the excise duty wont stop or slow down the mobile money transfer business

Do you prefer the destruction of the textile industry? If this industry was to be revived, it would create more jobs and boost the economy than selling mitumbas!

The excise duty will definitely be passed on to the consumer and that will lead to higher transaction fees thus reducing the transactions volume. So how will this earn more tax revenues for the govt.

$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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VituVingiSana
#210 Posted : Friday, December 14, 2012 1:51:10 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,365
Location: Nairobi
hisah wrote:
nakujua wrote:
hisah wrote:
Cash transfers to get taxed - http://www.businessdaily...6/-/em5qae/-/index.html

Mobile money to get slapped with 10% excise duty while mitumba clothes get an import duty reduction...

What is KE promoting? A mitumba economy...

Why slam the brakes on mobile money just to support blotted gubberment spending? KE econ needs stimulus and money velocity offered by mobile money to fasten development. SMH... d'oh!


I see no problem with a mitumba economy, pluse the excise duty wont stop or slow down the mobile money transfer business

Do you prefer the destruction of the textile industry? If this industry was to be revived, it would create more jobs and boost the economy than selling mitumbas!

The excise duty will definitely be passed on to the consumer and that will lead to higher transaction fees thus reducing the transactions volume. So how will this earn more tax revenues for the govt.

All taxes get passed on to consumers. Githae was being sneaky when he claimed the cost is to be borne by telcom operators. Airtel offers free money transfers. They may choose to 'eat' it for now but in the long-run it will be charged to consumers/users.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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