Airtel Separates Mobile Money From Network Services
- Kenya’s second-largest telco network provider has separated its network services from mobile money
- Airtel said the move is meant to enable the CBK to regulate its mobile money services
- Airtel money shall now be under Airtel money Kenya limited while network services shall be under Aitel network Kenya limited
- The process of delinking mobile money services from other businesses started back in 2019
- Aitel customers are not required to take any action following these changes.
Details
Since 2019, the central bank of Kenya has been in the process of delinking mobile money services from network provision services. The process ended for airtel this 2022 and saw airtel mobile money services separated from airtel network services.
Following these changes, airtel money Kenya Limited shall take over the operations of airtel money services. Airtel customers shall needed to make no changes, by continuing to use the services of airtel, they shall have agreed to comply with the regulations of both services. In case you are not willing to use airtel services following this change, you can cease using the services. The changes shall see significant improvement in governance and activity tracking of mobile money services in Kenya.
In a press release, the CBK said that the move is meant to enable the body to conduct supervision of the mobile money services. It would further enable PSPs to appropriately monitor and track activities of mobile money services separate from other businesses. It shall also enable PSPs to protect their services which are regulated by the CBK from shocks emanating from other business ventures and thereby strengthen governance.
Aitel money Kenya is the second largest mobile money services provider after Safaricom’s M-Pesa. Airtel network services also come second in Kenya after Safaricom’s network services in Kenya. The move by CBK to separate mobile money services from other businesses shall see better and easier governance by PSPs