The provision of mobile money services has been a dynamic and fast-growing sector in Africa. Beyond money transfer, the industry in different countries has evolved to provide additional services such as bill and merchant payments as well as financial services such as credit, insurance and savings. In East Africa, Tanzania, Uganda and Kenya have at least one mobile money provider offering a savings and credit facility.
Competition Authority of Kenya (CAK) rules on USSD Pricing
The Competition Authority of Kenya has ordered all mobile money service providers, including Safaricom, to disclose all mobile money service fees payable by consumers for USSD (unstructured supplementary service data) based transactions.