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Airtel Money loses Sh670 million to staff fraud

Airtel Shop on Koinange Street taken on January 23, 2017. [Photo: Wilberforce Okwiri, Standard]

Kenya’s second-leading mobile operator Airtel Kenya lost Sh670 million through employee theft on its Airtel Money platform last year.

This was revealed by its parent company Airtel Africa in its listing prospectus that highlights high capitalasation costs and tightening regulatory environment, especially in the mobile money sector as the leading risks to growth and profitability.

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