Safaricom, NCBA & KCB Bank CEOs to Hold A Briefing Today

According to sources privy to this publication, the Chief Executive officers (CEOs) of Safaricom, NCBA, and KCB bank are expected to hold a press conference to make a major announcement to the public today.

Safaricom, NCBA & KCB Bank CEOs to Hold A Briefing Today
Safaricom CEO, Peter Ndegwa

According to reports, the joint meeting will include financial inclusions in the country's future. The meeting is scheduled for 12.30 p.m. at the Norfolk Hotel in Nairobi. The three CEOs are expected to attend as well.

On September 21, Dagoretti South MP John Kiarie proposed that the M-Pesa service be separated from Safaricom and its other carrier services.

Kiarie proposed splitting the Safaricom business so that mobile phone services would continue to be regulated by the Communications Authority of Kenya, while M-Pesa would be administered by the Central Bank of Kenya (CBK).

The Kenya Kwanza Alliance lawmaker claimed Safaricom and other telcos were acting like banks during an induction meeting of newly elected MPs on Tuesday, September 20, at the Safari Park Hotel in Nairobi.

We have companies that are registered as communication companies that are doubling up as banks. As it is right now, they fall and are regulated by the Communications Authority, but because they are also transacting money, some regulations come from CBK that they depend on,” John Kiarie stated.

More to follow...