BD Insider: The SEC’s smart approach to fintech regulation

In today’s midweek update, we look at:

• Kenyan lawmakers push for Safaricom, M-PESA split
• NCC withdraws sanction threat against Starlink
• SEC advocates for smart regulation in Nigeria’s fintech sector

Kenyan lawmakers push for Safaricom, M-PESA split

Kenyan lawmakers appear to be adopting a “divide and conquer” approach, as they push to separate Safaricom, the country’s largest telecommunications company, from its mobile money arm, M-PESA.

Why? This move is aimed at reducing Safaricom’s market dominance and increasing regulatory oversight. The Information and Communications (Amendment) Bill of 2022, which proposes the split, has been revived in the Kenyan parliament. While Safaricom has consistently opposed the separation, regulators and lawmakers believe it is necessary to ensure fair competition and protect consumers.

Last updated: February 3, 2025