Safaricom for all intents and purposes is a telecommunication company. Its primary services are voice, SMS, and data. However, given the level of competition in the local Kenyan market, the telecom has been innovative in meeting its subscribers’ needs.
Given the fact that Kenya, like most developing nation, had a vast unbanked population. Safaricom came up with what could be the first wide-scale fintech solution in the form of mobile money service M-Pesa.
M-Pesa is now the poster-child for successful fintech solution deployment around the globe. The telecom has further come up with innovative solutions in attempts to preempt its subscribers’ needs. And thus came Safaricom’s e-commerce platform Masoko and its controversial music streaming services Songa by Safaricom.
For the record, in its e-commerce platform Masoko, it is Safaricom’s mobile money services M-Pesa that is the primary payment method. We are not saying that Safaricom wants to lock its subscribers within its own ecosystem (the type of behavior we see with big tech companies such as Apple), but the telecom has been accused of the practice before. Previously, Safaricom signed an exclusive deal with mobile …read more