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Safaricom and Vodacom To Bring M-PESA Completely In-House

Safaricom and Vodacom want to keep M-PESA in-house by buying out the rights of Vodafone for $13.4 million. That is a great move.

Kenya’s Safaricom will start a joint venture with Vodacom to acquire the intellectual property rights to the popular M-Pesa mobile financial services platform from Britain’s Vodafone, Safaricom’s CEO said on Thursday.

The 12 million euro ($13.4 million) deal will let both purchasers make significant savings in royalties paid to Vodafone and expand the service to new African markets, said Bob Collymore, Safaricom’s CEO.

Good news here, but it seems to me that you made a mistake here a bit. You mention Safaricom and Vodafone will buy from Vodacom, then later it appears that Safaricom and Vodacom will buy out from Vodafone. Something is messed up somewhere.

Thanks Tell - you are right. I have updated it.