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Safaricom Plans Mobile-Money Roll-Out After Vodafone Stake Sale

  • Kenya’s biggest company may expand M-Pesa into Nigeria, Angola
  • Regulator report into dominance to add measures to help rivals
Residents transfer money using the M-Pesa banking service at a store in Nairobi, Kenya, on Sunday, April 14, 2013. In the six years since Kenya's M-Pesa brought banking-by-phone to Africa, the service has grown from a novelty to a bona fide payment network.
Photographer: Trevor Snapp/Bloomberg

Safaricom Ltd. may expand its popular mobile-banking service M-Pesa into countries such as Nigeria and Angola, as East Africa’s biggest company grapples with regulatory scrutiny in its home market of Kenya.

The sale of a 35 percent stake in the Nairobi-based company to Vodacom Group Ltd. by parent Vodafone Group Plc has enabled Safaricom to look to new markets, Chief Executive Officer Bob Collymore said in an interview at his office in the Kenyan capital. That’s because Vodafone has an agreement with the South African government to only expand in Africa through Vodacom, its majority-owned Johannesburg-based unit.