Wazua
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Safaricom FY 2018/19
Rank: Elder Joined: 12/7/2012 Posts: 11,908
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sparkly wrote:murchr wrote:Kusadikika wrote:rwitre wrote:Angelica _ann wrote:rwitre wrote:Angelica _ann wrote:murchr wrote:rwitre wrote:By the way....Facebook's Libra will eat into MPESA future revenues.
Like WhatsApp did to SMS Good luck to Facebook Not the Kenya Mpesa, this one we are hooked kabisaa!!! You will be able to send money, at a fraction of the cost, through Facebook's apps (WhatsApp, Instagram, Messenger..) Tell a Kenyan he can send money to his friend through WhatsApp. MPESA better adapt fast. Probably explain like deposit, withdrawal, security etc? Still under development, to be launched early 2020. Here is a nice piece on the information released so far The technology is there, the kizungumkuti is going to be Government regulation. A global Mpesa system will not seat comfortably with many banks and local Safaricom's all over the world. I think what Governments will do is adopt the Chinese model of bureaucracy in banking. Contrary to popular belief a foreigner can actually open a bank in China... you only have to follow a few rules. One you apply for a licence to register the bank... this takes a couple of months.. once you get the licence then you apply for another licence to accept deposits.... you need the first licence before you can apply for the second.... this takes another couple of months to process.......then you apply for another licence to allow withdrawal.... you need the first 2 licences before you can apply for this one... this takes a couple of months...... Now all this is only to have a physical bank... if you want your bank to have a website you need to apply for another licence....... another few months...... then if you want to have people do any kind of transactions on the website you need another licence....... etc etc. They also make it more complicated by having all these licences issued by different institutions so you have to deal with different people every time. I was listening to a presentation by an executive of an American Bank that has been in China for 10 years and they are still applying for some licences. People forget that the reason Mpesa took off in Kenya so fast was not so much because of the Technology but because the then CBK governor Prof. Ndung'u and then acting Finance Minister John Michuki bought into the idea and allowed it be established. Michael Joseph tried to replicate Mpesa for Vodafone across the world with limited success and he found out that the biggest hurdle was Government regulation. Bulls-eye! Agreed. Zuck says libra is targeted at the 1B users in developing world without bank accounts. He is assuming that the governments of India, China, Latin America will freely cede their sovereign currency if favour of a currency not recognized by Uncle Sam and Euro zone. If libra will be readily convertable with dollar and euro, it will be taken up easily. If not, it will turn out as currency for black market deals and failed states. Currency conversion will be a challenge for Libra in Kenya. In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Starting today, any customer on the Safaricom network with a compatible 4G smartphone can now enjoy voice and video calling on our 4G network. - Charles Kare – Director, Consumer Business Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Ericsson wrote:Starting today, any customer on the Safaricom network with a compatible 4G smartphone can now enjoy voice and video calling on our 4G network. - Charles Kare – Director, Consumer Business Huh? I have been doing this using WhatsApp for... years! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Libra will be a "stablecoin" backed by deposits of USD/Euro/GBP not Zim$, KES, etc. The price will probably fluctuate based on the value of the "deposits" but it will be more like M-Pesa than Bitcoin. Our M-Pesa "credits" are backed by KES in a bank (CBA, KCB) at a 1:1 ratio. So Libra "credits" could be backed by USD at a pre-determined ratio. If other currencies are used then it could be similar to the WB's SDR. This is not rocket science. What will probably happen is that countries with shaky currencies will want to protect their currencies. If you are forced to hold KES, then CBK/GoK doesn't have to pay out USD/JPY to the other side. IMHO, CBs may be better off dealing with Libra then Bitcoin. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 3/8/2018 Posts: 507 Location: Nairobi
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VituVingiSana wrote:Libra will be a "stablecoin" backed by deposits of USD/Euro/GBP not Zim$, KES, etc.
The price will probably fluctuate based on the value of the "deposits" but it will be more like M-Pesa than Bitcoin.
Our M-Pesa "credits" are backed by KES in a bank (CBA, KCB) at a 1:1 ratio.
So Libra "credits" could be backed by USD at a pre-determined ratio. If other currencies are used then it could be similar to the WB's SDR.
This is not rocket science. What will probably happen is that countries with shaky currencies will want to protect their currencies. If you are forced to hold KES, then CBK/GoK doesn't have to pay out USD/JPY to the other side.
IMHO, CBs may be better off dealing with Libra then Bitcoin. Interesting pieceQuote:
People will obtain Libras by handing over national currency to organizations such as Calibra, the subsidiary that Facebook is creating to handle Libra transactions. Calibra will in turn transfer this money to the Libra Reserve—a group of accounts held by financial custodians around the world. The money that goes into the reserve will be held there or used to buy other currency or low-risk government bonds. Meanwhile, people with Libras can transfer them over the internet, using them to buy things or make gifts. You can exchange your Libras back into a national currency if you need it, with the money coming out of the reserve.
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The white paper provides a few details about how the Libra Association will work. It currently has 28 members, with that number expected to rise to 100. (To get the system started, the members put money in the Libra Reserve, which will enable the creation and circulation of an initial pot of Libras.) Major policy decisions will be made by a two-thirds vote. A small number of nonprofits are given slots, but the majority of members are large profit-making corporations, including PayPal, Facebook/Calibra, Uber, Visa, Mastercard, the telecommunications firm Vodafone, and various venture-capital powerhouses. Ordinary people who buy and use Libras have no votes.
Basically Libra is wrestling power from Central Banks, and putting it in the hands of corporates. The CBs in the developing world will be most affected.
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Rank: Elder Joined: 7/22/2008 Posts: 2,703
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The issue of cryptocurrency is very interesting. It is not just a business issue but a social economic issue. It goes to the heart of how our societies are organized. Currently the world is organized into nation states and it is within their boundaries that rules of trade and commerce and money and goods transactions are made. These nation states can have treaties and agreements with other nation states but ultimately the nation state is still where the rules are made.
Cryptocurrency as a concept seeks a flow of money that is independent of nation states which is where the big problem will be. Wealth in todays world is only there because of the rules of the country.
What does it mean to say you own something? Say for example you own a house in South B. What exactly does it mean to own it? It means that you have a piece of paper called a title granted by the state that gives you a right to occupy and deal in the house, you can live in it, sell it or rent it or repair it etc. It means that if someone else comes to your house and you do not want them there you can ask them to leave and if not you can call upon the STATE to come help you kick them out.
When you are an owner of something it means you have the police, the judiciary and every public body on your side. When the president and all other state officers swear to abide and protect the constitution they are swearing to help you keep what is yours.
Now imagine what ownership means when there is no state protection, it means you can only own what you can defend as a person or with the group of friends that you can manage to recruit. You can still own something but it will be very limited. If you go back to your house in South B and you find 5 mjengo guys from Kibera have decided to occupy it your ownership will just have ended unless you can recruit a bigger stronger group to evict them.
Up until now currencies have only been owned by nation states or coalition of nation states. These same states also have law making bodies and police forces and armies. All these are connected. To create a currency that is not backed by a law making body, army and police is something new. It is new territory. Let us see how it unfolds.
I believe Mark Zuckerberg does not worry as much about the technology that could support a global currency system as much as he worries about what an act of congress could do to that system.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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VituVingiSana wrote:Ericsson wrote:Starting today, any customer on the Safaricom network with a compatible 4G smartphone can now enjoy voice and video calling on our 4G network. - Charles Kare – Director, Consumer Business Huh? I have been doing this using WhatsApp for... years! Yes while incurring data costs. VoLTE no data costs "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Member Joined: 2/20/2015 Posts: 467 Location: Nairobi
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murchr wrote:VituVingiSana wrote:Ericsson wrote:Starting today, any customer on the Safaricom network with a compatible 4G smartphone can now enjoy voice and video calling on our 4G network. - Charles Kare – Director, Consumer Business Huh? I have been doing this using WhatsApp for... years! Yes while incurring data costs. VoLTE no data costs Only the call is charged normal. The HD Voice & Video is using data so you must have data.... Watch your data bundle run out as you enjoy your HD video.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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kawi254 wrote:murchr wrote:VituVingiSana wrote:Ericsson wrote:Starting today, any customer on the Safaricom network with a compatible 4G smartphone can now enjoy voice and video calling on our 4G network. - Charles Kare – Director, Consumer Business Huh? I have been doing this using WhatsApp for... years! Yes while incurring data costs. VoLTE no data costs Only the call is charged normal. The HD Voice & Video is using data so you must have data.... Watch your data bundle run out as you enjoy your HD video. "We are the first to bring this technology to East Africa. Our customers can now make quality voice and video calls without internet and at normal calling rates,’’ Kare said "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Kusadikika wrote:The issue of cryptocurrency is very interesting. It is not just a business issue but a social economic issue. It goes to the heart of how our societies are organized. Currently the world is organized into nation states and it is within their boundaries that rules of trade and commerce and money and goods transactions are made. These nation states can have treaties and agreements with other nation states but ultimately the nation state is still where the rules are made.
Cryptocurrency as a concept seeks a flow of money that is independent of nation states which is where the big problem will be. Wealth in todays world is only there because of the rules of the country.
What does it mean to say you own something? Say for example you own a house in South B. What exactly does it mean to own it? It means that you have a piece of paper called a title granted by the state that gives you a right to occupy and deal in the house, you can live in it, sell it or rent it or repair it etc. It means that if someone else comes to your house and you do not want them there you can ask them to leave and if not you can call upon the STATE to come help you kick them out.
When you are an owner of something it means you have the police, the judiciary and every public body on your side. When the president and all other state officers swear to abide and protect the constitution they are swearing to help you keep what is yours.
Now imagine what ownership means when there is no state protection, it means you can only own what you can defend as a person or with the group of friends that you can manage to recruit. You can still own something but it will be very limited. If you go back to your house in South B and you find 5 mjengo guys from Kibera have decided to occupy it your ownership will just have ended unless you can recruit a bigger stronger group to evict them.
Up until now currencies have only been owned by nation states or coalition of nation states. These same states also have law making bodies and police forces and armies. All these are connected. To create a currency that is not backed by a law making body, army and police is something new. It is new territory. Let us see how it unfolds.
I believe Mark Zuckerberg does not worry as much about the technology that could support a global currency system as much as he worries about what an act of congress could do to that system. But in Kenya, you could have a genuine Title Deed. And there are 2 more Title Deeds for the same 100x100. And then these "renewal" scams. https://www.nation.co.ke...68544-60st2lz/index.htmlGreedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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murchr wrote:VituVingiSana wrote:Ericsson wrote:Starting today, any customer on the Safaricom network with a compatible 4G smartphone can now enjoy voice and video calling on our 4G network. - Charles Kare – Director, Consumer Business Huh? I have been doing this using WhatsApp for... years! Yes while incurring data costs. VoLTE no data costs So does it use "minutes/airtime"? Say I call you, my minutes/airtime are used/deducted. So does an audio call for 1 minute = a video call for 1 minute? BTW, there's a data package from Saf that offers 5Gb (or so) free WhatsApp when one buys a 5gb data bundle. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 7/22/2008 Posts: 2,703
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VituVingiSana wrote:murchr wrote:VituVingiSana wrote:Ericsson wrote:Starting today, any customer on the Safaricom network with a compatible 4G smartphone can now enjoy voice and video calling on our 4G network. - Charles Kare – Director, Consumer Business Huh? I have been doing this using WhatsApp for... years! Yes while incurring data costs. VoLTE no data costs So does it use "minutes/airtime"? Say I call you, my minutes/airtime are used/deducted. So does an audio call for 1 minute = a video call for 1 minute? BTW, there's a data package from Saf that offers 5Gb (or so) free WhatsApp when one buys a 5gb data bundle. Is this just a clever way for Safcom to charge both ways? With voice only the caller pays now with video you pay to see the other person and they pay to see you. Very clever indeed. Good for profits.... You can be sure girls will never call their boyfriends and husbands using voice peke yake, they will always video so that they can ask "ni nani huyo mko na yeye" and guys will be refusing to pick video calls only insisting on voice.......... you see all these technology things are just the work of the devil...always introducing things to fight about. 
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Rank: Member Joined: 3/9/2010 Posts: 320 Location: kenya
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Kusadikika wrote:VituVingiSana wrote:murchr wrote:VituVingiSana wrote:Ericsson wrote:Starting today, any customer on the Safaricom network with a compatible 4G smartphone can now enjoy voice and video calling on our 4G network. - Charles Kare – Director, Consumer Business Huh? I have been doing this using WhatsApp for... years! Yes while incurring data costs. VoLTE no data costs So does it use "minutes/airtime"? Say I call you, my minutes/airtime are used/deducted. So does an audio call for 1 minute = a video call for 1 minute? BTW, there's a data package from Saf that offers 5Gb (or so) free WhatsApp when one buys a 5gb data bundle. Is this just a clever way for Safcom to charge both ways? With voice only the caller pays now with video you pay to see the other person and they pay to see you. Very clever indeed. Good for profits.... You can be sure girls will never call their boyfriends and husbands using voice peke yake, they will always video so that they can ask "ni nani huyo mko na yeye" and guys will be refusing to pick video calls only insisting on voice.......... you see all these technology things are just the work of the devil...always introducing things to fight about. Work of the devil!!! Work hard at your job and you can make a living. Work hard on yourself and you can make a fortune.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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cyruskulei wrote:Kusadikika wrote:VituVingiSana wrote:murchr wrote:VituVingiSana wrote:Ericsson wrote:Starting today, any customer on the Safaricom network with a compatible 4G smartphone can now enjoy voice and video calling on our 4G network. - Charles Kare – Director, Consumer Business Huh? I have been doing this using WhatsApp for... years! Yes while incurring data costs. VoLTE no data costs So does it use "minutes/airtime"? Say I call you, my minutes/airtime are used/deducted. So does an audio call for 1 minute = a video call for 1 minute? BTW, there's a data package from Saf that offers 5Gb (or so) free WhatsApp when one buys a 5gb data bundle. Is this just a clever way for Safcom to charge both ways? With voice only the caller pays now with video you pay to see the other person and they pay to see you. Very clever indeed. Good for profits.... You can be sure girls will never call their boyfriends and husbands using voice peke yake, they will always video so that they can ask "ni nani huyo mko na yeye" and guys will be refusing to pick video calls only insisting on voice.......... you see all these technology things are just the work of the devil...always introducing things to fight about. Work of the devil!!! The devil has spooked the share price today Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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cyruskulei wrote:Kusadikika wrote:VituVingiSana wrote:murchr wrote:VituVingiSana wrote:Ericsson wrote:Starting today, any customer on the Safaricom network with a compatible 4G smartphone can now enjoy voice and video calling on our 4G network. - Charles Kare – Director, Consumer Business Huh? I have been doing this using WhatsApp for... years! Yes while incurring data costs. VoLTE no data costs So does it use "minutes/airtime"? Say I call you, my minutes/airtime are used/deducted. So does an audio call for 1 minute = a video call for 1 minute? BTW, there's a data package from Saf that offers 5Gb (or so) free WhatsApp when one buys a 5gb data bundle. Is this just a clever way for Safcom to charge both ways? With voice only the caller pays now with video you pay to see the other person and they pay to see you. Very clever indeed. Good for profits.... You can be sure girls will never call their boyfriends and husbands using voice peke yake, they will always video so that they can ask "ni nani huyo mko na yeye" and guys will be refusing to pick video calls only insisting on voice.......... you see all these technology things are just the work of the devil...always introducing things to fight about. Work of the devil!!! .. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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Rank: New-farer Joined: 12/27/2013 Posts: 87
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It a sad July as safaricom chairman announced the passing over of safaricom CEO Mr Bob colymore this morning, according to a letter to all staff.RIP Mr Bob GOOD TO GREAT. KINGOTORE
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Rank: Veteran Joined: 8/16/2009 Posts: 994
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Sad that we have lost him. He was a great leader and oversaw a huge part of the recent Safaricom strategies of staying ahead of competition. May he rest in peace. Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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Rank: Veteran Joined: 8/10/2014 Posts: 969 Location: Kenya
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Very sad indeed to have lost one of the best CEOs in the country. May he rest in peace....
From Jeff Koinange's interview on Citizen, he had already told the board that he won't last the year that they had given him after medical complications and that they should look for his successor. So the Safaricom board was preparing to name a new CEO this week and give Bob some time off to spend with his family in his final days.
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Rank: Member Joined: 12/22/2015 Posts: 224 Location: Mombasa, Kenya
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watesh wrote:Very sad indeed to have lost one of the best CEOs in the country. May he rest in peace....
From Jeff Koinange's interview on Citizen, he had already told the board that he won't last the year that they had given him after medical complications and that they should look for his successor. So the Safaricom board was preparing to name a new CEO this week and give Bob some time off to spend with his family in his final days. Such a fine gentleman. Start!
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