Telecom operators Safaricom and Airtel have agreed to absorb 175 of exiting yuMobile employees as part of the Sh11 billion buyout deal expected to be concluded this week.
The agreement reached by the three parties will see Safaricom take over 150 yuMobile employees and Airtel 25.
yuMobile, which is owned by Indian conglomerate Essar, has 197 employees excluding the expatriates, meaning 22 employees will not be absorbed in the arrangement and will be paid to retire. Read More
Safaricom’s M-Pesa agents earned total commissions of Sh10.6 billion in the year to March 2014, equivalent to nearly half (40 per cent) of the mobile money platform’s revenue. The agents’ take-home grew by a quarter from Sh8.5 billion in 2013 driven by an increase in M-Pesa subscribers and a surge in the average number of transactions per customer. Read More