{"id":27802,"date":"2023-05-29T16:09:49","date_gmt":"2023-05-29T16:09:49","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/?p=27802"},"modified":"2023-05-29T16:11:01","modified_gmt":"2023-05-29T16:11:01","slug":"vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1","title":{"rendered":"Vodafone to Hand M-Pesa Holdings to Safaricom for US$1"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>Vodafone has announced that it would sell M-Pesa Holding Company Limited (MPHCL), the company that manages all M-Pesa deposits, to Safaricom for $1.<\/b><\/p>\n

Per its financial statement, the transaction began on April 17, 2023, and should be completed by July 2023.<\/p>\n

M-Pesa Holdings is different from the M-Pesa service Safaricom offers. The former is the trustee that holds all deposits of the latter and invests them for the benefit of the customers.<\/p>\n

While Vodafone is yet to reveal why it\u2019s selling the trust to Safaricom, many believe that the move will boost Safaricom\u2019s activities.<\/p>\n

With three consecutive quarters of financial decline\u2014mostly led by the cost of its expansion into Ethiopia\u2014Safaricom could use a cash flow-generating asset like MPHCL. The holding company, per Vodafone, presently has \u20ac1.2 billion ($1.3 billion) in customer funds which Safaricom could invest in short-term securities.<\/p>\n

Lawsuit<\/b><\/p>\n

The sale also transfers liabilities of MPHCL to Safaricom, which includes a $2.4 billion lawsuit filed by three Kenyans.<\/p>\n

In it, the plaintiffs claim that MPHCL violates Kenya\u2019s trust laws by using customer deposits to give loans through its Fuliza service.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. Vodafone has announced that it would sell M-Pesa Holding Company Limited (MPHCL), the company that manages all M-Pesa deposits, to Safaricom for $1. Per its financial statement, the transaction began on April 17, 2023, and should be completed by July 2023. M-Pesa Holdings is different from the M-Pesa service Safaricom offers. The […]<\/p>\n","protected":false},"author":84,"featured_media":27801,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[233,237,234],"class_list":["post-27802","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nVodafone to Hand M-Pesa Holdings to Safaricom for US$1 - Botswana<\/title>\n<meta name=\"description\" content=\"Vodafone has announced that it would sell M-Pesa Holding Company Limited (MPHCL), the company that manages all M-Pesa ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vodafone to Hand M-Pesa Holdings to Safaricom for US$1\" \/>\n<meta property=\"og:description\" content=\"Vodafone has announced that it would sell M-Pesa Holding Company Limited (MPHCL), the company that manages all M-Pesa ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-29T16:09:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-29T16:11:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/05\/sm_1685358434.826456.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1620\" \/>\n\t<meta property=\"og:image:height\" content=\"1077\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Vodafone to Hand M-Pesa Holdings to Safaricom for US$1\",\"datePublished\":\"2023-05-29T16:09:49+00:00\",\"dateModified\":\"2023-05-29T16:11:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1\"},\"wordCount\":200,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/05\/sm_1685358434.826456.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1\",\"name\":\"Vodafone to Hand M-Pesa Holdings to Safaricom for US$1 - 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