Why Safaricom could eat commercial banks' lunch if M-Pesa is split

Safaricom remains the National Treasury's biggest corporate cash cow at a time the country is struggling to grow revenues. [Elvis Ogina, Standard

A distinct M-Pesa unit with all the rights to operate like a traditional bank would give commercial lenders a run for their money, if the regulators act on their controversial pledge to split Kenya's biggest telco, Safaricom.

This is according to analysts and insiders at Safaricom, who now believe the looming separation will enable the company to deepen its financial services.