Ban on betting costs Safaricom Sh1.9 billion

Safaricom CEO Micheal Joseph makes his remarks at Kenya Institute of Curriculum Development (KICD)on 15th October 2019 in Nairobi during flagging off of Sanitary pad delivery trucks to candidates for both class 8 and form four into different school in the country [Edward Kiplimo, Standard]

Mobile service provider Safaricom lost Sh1.9 billion in revenues after the government banned sports betting last year.

This comes even as the company made Sh84 billion from M-Pesa in the 2019/2020 financial year. This is against another Sh600 million revenue loss due to waiver of sending charges on transaction amounts of less than Sh1,000.