{"id":30213,"date":"2023-05-30T13:17:59","date_gmt":"2023-05-30T13:17:59","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1"},"modified":"2023-05-30T13:35:12","modified_gmt":"2023-05-30T13:35:12","slug":"vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/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":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Mauritius. <\/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. Per its financial statement, the transaction began on April 17, 2023, and should be completed by July 2023.<\/p>\n<p>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<p>While Vodafone is yet to reveal why it\u2019s selling the trust to Safaricom, many believe that the move will boost Safaricom\u2019s activities. 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.<\/p>\n<p>The holding company, per Vodafone, presently has \u20ac1.2 billion ($1.3 billion) in customer funds which Safaricom could invest in short-term securities. Lawsuit<\/p>\n<p>The sale also transfers liabilities of MPHCL to Safaricom, which includes a $2.4 billion lawsuit filed by three Kenyans. 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<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/mauritius\">Mauritius<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Mauritius. 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 [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":30212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[233,245,241,2473],"class_list":["post-30213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-mauritius","tag-mauritius","tag-vodafone"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Vodafone to Hand M-Pesa Holdings to Safaricom for US$1 - Mauritius<\/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 de ...\" \/>\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\/mauritius\/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 de ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-30T13:17:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-30T13:35:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/05\/sm_1685437004.389364.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\/mauritius\/all-news\/vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Vodafone to Hand M-Pesa Holdings to Safaricom for US$1\",\"datePublished\":\"2023-05-30T13:17:59+00:00\",\"dateModified\":\"2023-05-30T13:35:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1\"},\"wordCount\":200,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/05\/sm_1685437004.389364.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mauritius\",\"Mauritius\",\"Vodafone\"],\"articleSection\":[\"all news\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/vodafone-to-hand-m-pesa-holdings-to-safaricom-for-us1\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/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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