Airtel successfully completes separation of its mobile money from telecommunication services

The Central Bank of Kenya (CBK) has approved the separation of Airtel’s Mobile Money from the firm’s telecommunication services in a process which began in 2019.

It basically means that Airtel, which is headquartered in India, will have two separate business services in Kenya under Airtel Money Kenya Limited (AMKL) and Airtel Network Kenya Limited (ANKL).

The separation paves way for Airtel to ring-face its operation and focus solely on mobile money services in the country.

“This sets the foundation for AMKL to enhance  governance over its mobile money business, strengthen iots operations and offer better services to its customers,” announced the  regulator in a statement Tuesday.

Airtel Money was licensed as Payment Service Provider (PSP) on January 21, 2022 under the National Payment Service System Act, 2011.

In Kenya, PSP are mandated to offer their services in strict compliance of CBK requirements, and must operate separately from other businesses.

This is to allow the PSPs to protect the CBK-regulated activities from the shocks emanating from other business activities.

It is also meant to ensure strong governance in their operations, enhance resilience and focuses on  improving services to customers.

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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.
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