M-Pesa Enters Uganda in Safaricom, MTN Deal

By Soko Directory Team / December 28, 2015



m-pesa

The equities market resumed on a positive note as all indicators closed in the green. The NSE-20 share index gained 0.63% to close at 3980.57 points whilst the NSE-25 share index, went up by 0.16% to close at 4109.72 points. The NSE All Share index followed suit, advancing marginally by 0.30% to close at 142.94 points. Equity turnover picked up by 253.10% to close at KES 0.268Bn from KES 75.88Mn. Shareholder’s wealth expanded by 0.30% to settle at KES 2,010.67Bn. Market breadth, depicted that the market had improved, with the advancers-23 outweighing the number of decliners-9.

Following a deal between Safaricom (NSE: SCOM) and MTN Uganda, Ugandan customers are set to make mobile transactions with Kenya seamlessly and affordably. This move just comes after the telco operator roped in Vodacom Tanzania and MTN Rwanda, by introducing cross border transactions between customers on the respective networks.

Uganda becomes the 12th country with M-Pesa footprint after Kenya, Rwanda South Africa, Lesotho, DR Congo, Mozambique, Tanzania, India, Romania, Fiji and Egypt. The partnership is intended to heighten regional trade and this is expected to immensely ease the cost of doing business across the countries as well as develop financial inclusion through integration with existing and emerging financial service platforms. We expect to see sturdy growth on Mpesa revenues which currently contributes 20% of total revenues, consequently boosting the overall performance of the telco operator.

Equity Market Highlights

Equity Group Holdings Ltd (NSE: EQTY) recorded the day’s highest turnover of KES 175.53Mn to contribute 65.51% of total market activity. Kenya Commercial Bank Ltd (NSE: KCB) followed with a turnover of KES 42.72Mn representing 15.94% of total market turnover. Jubilee Holdings Ltd (NSE: JUB) capped the gainers list, appreciating by 10.00% to close at KES 484.00. Carbacid Ltd (NSE: CARB) recorded a 9.67% gain to close the day at KES 16.45.

Diamond Trust Bank Ltd (NSE: DTB) emerged as the top laggard of the day, plummeting by 5.64% to close at KES 184.00. Sasini Ltd (NSE: SASN) trailed behind, shedding off 4.6% to close at KES 20.50.



About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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