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Safaricom 2019/2020
Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Kenya's Safaricom plans Ethiopia expansion after profit jumpKenya’s Safaricom plans to bid for one of two Ethiopian telecoms licences next year in partnership with South Africa’s Vodacom, it said after posting a jump in first-half profit on Friday. East Africa’s most profitable company hopes to replicate its Kenyan success in neighbouring Ethiopia, acting CEO Michael Joseph said. “It is the biggest prize left in Africa from a telecommunications point of view,” he told an investor briefing, referring to Ethiopia’s huge protected market and population of more than 100 million. Officials plan to award two telecoms licences to multinational mobile companies by April 2020, the Ethiopian communications regulator said last month, as it opens up its market to foreign investors. Ethio Telecom, the state monopoly, has also taken steps towards offering a minority stake to a strategic investor. Safaricom is considering all the options, Joseph said. Companies that want to secure the licences have to come with deep pockets, he added. “You have to bid for the spectrum. There is talk about it and it is in the billion-dollar range, just for the licence,” he told Reuters. Other challenges include a nascent democracy initiated by Prime Minister Abiy Ahmed, foreign exchange shortages and delayed new regulations for the telecoms sector, he added. Safaricom has signed an agreement with an unidentified Ethiopian firm to introduce its M-Pesa mobile financial service in the country, said the interim CEO. PROFIT JUMPSafaricom, partly owned by Vodacom and Britain’s Vodafone , stuck to its full-year guidance after reporting a 12.7% jump in first-half core earnings, helped by M-Pesa. Revenue from M-Pesa, which allows users to send cash, save, borrow and pay for goods and services, soared 18.2% in the six months to Sept. 30. Safaricom’s Service revenue grew at 5.3%, down from 7.7% a year earlier, as the company cut tariffs in response to increased competition and pressure on consumer incomes. “For a period in which they have cut rates, the revenue growth is acceptable,” said Standard Investment Bank analyst Lisa Kimathi. Safaricom shares were up 1.5% at 30.20 shillings by 1110 GMT. https://af.reuters.com/a.../kenyaNews/idAFL8N27H0OWWealth 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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watesh wrote:Ericsson wrote:Safaricom is considering buying a stake in Ethiopia state owned Ethio telecom, which has announced the sale of shares through a privatization plan or setting shop in Ethiopia from scratch. Finally some light at the end of the tunnel in terms of expansion outside the country Safaricom is not keen on participating in the privatization of Ethio Telecom, it’s more keen on a greenfield operation,Michael Joseph told investors earlier during Half year results. 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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VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:watesh wrote:Ericsson wrote:Safaricom is considering buying a stake in Ethiopia state owned Ethio telecom, which has announced the sale of shares through a privatization plan or setting shop in Ethiopia from scratch. Finally some light at the end of the tunnel in terms of expansion outside the country Ethio telecom 2018/2019 Financial results Revenue - - - $1.2bn Net income---$198mn Let's say Company is valued at sh.200bn using a price to earnings ratio of 10 If the Ethiopian government sells a 20% stake, safaricom may have to folk out $400mn or ksh.40bn Easy for Saf which paid 75bn+ in dividends last year. Let's wait and see what % stake will up for sale I was using your numbers. Even 50% at 100bn ($1bn) is do-able by Saf given it has the ability to borrow based on its regular and substantial cash inflow and debt-free balance sheet. Safaricom to partner with Vodacom in establishing greenfield operation in Ethiopia 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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VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:watesh wrote:Ericsson wrote:Safaricom is considering buying a stake in Ethiopia state owned Ethio telecom, which has announced the sale of shares through a privatization plan or setting shop in Ethiopia from scratch. Finally some light at the end of the tunnel in terms of expansion outside the country Ethio telecom 2018/2019 Financial results Revenue - - - $1.2bn Net income---$198mn Let's say Company is valued at sh.200bn using a price to earnings ratio of 10 If the Ethiopian government sells a 20% stake, safaricom may have to folk out $400mn or ksh.40bn Easy for Saf which paid 75bn+ in dividends last year. Let's wait and see what % stake will up for sale I was using your numbers. Even 50% at 100bn ($1bn) is do-able by Saf given it has the ability to borrow based on its regular and substantial cash inflow and debt-free balance sheet. Borrowing means it may go with a foreign bank or do a syndicated loan with local banks. Ethiopian government has given itself a timeline to complete by March 2020 and announce the winners. Easy for Safaricom to line up $1bn in financing within 3 months after the "award" given its strong cashflow, balance sheet and parent. Spectrum fee license estimated at $1bn for establishing operation in Ethiopia Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 3/9/2010 Posts: 320 Location: kenya
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Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:watesh wrote:Ericsson wrote:Safaricom is considering buying a stake in Ethiopia state owned Ethio telecom, which has announced the sale of shares through a privatization plan or setting shop in Ethiopia from scratch. Finally some light at the end of the tunnel in terms of expansion outside the country Ethio telecom 2018/2019 Financial results Revenue - - - $1.2bn Net income---$198mn Let's say Company is valued at sh.200bn using a price to earnings ratio of 10 If the Ethiopian government sells a 20% stake, safaricom may have to folk out $400mn or ksh.40bn Easy for Saf which paid 75bn+ in dividends last year. Let's wait and see what % stake will up for sale I was using your numbers. Even 50% at 100bn ($1bn) is do-able by Saf given it has the ability to borrow based on its regular and substantial cash inflow and debt-free balance sheet. Borrowing means it may go with a foreign bank or do a syndicated loan with local banks. Ethiopian government has given itself a timeline to complete by March 2020 and announce the winners. Easy for Safaricom to line up $1bn in financing within 3 months after the "award" given its strong cashflow, balance sheet and parent. Spectrum fee license estimated at $1bn for establishing operation in Ethiopia 1 Billion dollars??? That translates to 100B KSH. Too high. 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: Veteran Joined: 4/30/2010 Posts: 1,635
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Rank: Member Joined: 11/17/2018 Posts: 173 Location: Mars
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FUNKY wrote:https://www.businessdailyafrica.com/news/Safaricom-considers-lowering-M-Shwari/539546-5335872-view-asAMP-a22frr/index.html?__twitter_impression=true WHAT is it with Michael Joseph and reducing prices? He seems to be obsessed with the same! Reminiscing the old days of the price wars that made Safaricom shares tank?
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Extraterrestrial wrote:FUNKY wrote:https://www.businessdailyafrica.com/news/Safaricom-considers-lowering-M-Shwari/539546-5335872-view-asAMP-a22frr/index.html?__twitter_impression=true WHAT is it with Michael Joseph and reducing prices? He seems to be obsessed with the same! Reminiscing the old days of the price wars that made Safaricom shares tank? Customer benefits when prices are reduced. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 7/3/2007 Posts: 1,634
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Extraterrestrial wrote:FUNKY wrote:https://www.businessdailyafrica.com/news/Safaricom-considers-lowering-M-Shwari/539546-5335872-view-asAMP-a22frr/index.html?__twitter_impression=true WHAT is it with Michael Joseph and reducing prices? He seems to be obsessed with the same! Reminiscing the old days of the price wars that made Safaricom shares tank? It is a fight for market share. While Safaricoms customers are indeed sticky to Mpesa, the same can not be said of data and voice. To me, however, it seems like the perennial innovation well is running dry. Maybe Ndegwa will help. "The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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Rank: Member Joined: 5/6/2008 Posts: 199
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Once extravagant, Safaricom now tightens its fist
Good for Shareholders: - Cost optimisation - Sweating assets more - Customer service improvement Bad: - Altruistic reduction in cost of financial services. Only makes sense if demand is waning, which doesn't seem to be happening
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Rank: Veteran Joined: 7/3/2007 Posts: 1,634
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tandich wrote:Once extravagant, Safaricom now tightens its fist
Good for Shareholders: - Cost optimisation - Sweating assets more - Customer service improvement Bad: - Altruistic reduction in cost of financial services. Only makes sense if demand is waning, which doesn't seem to be happening Innovations like Mshwari, Okoa Jahazi and Fuliza have proven so successful that they have drained the previously inexhaustible Mpesa float. I expect Safaricom will try for a Bank licence, perhaps by buying one of the bottom tier stragglers (Mwalimu Bank, anyone?) before 2 years are up. It is only logical. In fact the only thing standing in the light of this move is the need to secure the Ethiotel opportunity. That one is yuuuge! "The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Wakanyugi wrote:tandich wrote:Once extravagant, Safaricom now tightens its fist
Good for Shareholders: - Cost optimisation - Sweating assets more - Customer service improvement Bad: - Altruistic reduction in cost of financial services. Only makes sense if demand is waning, which doesn't seem to be happening Innovations like Mshwari, Okoa Jahazi and Fuliza have proven so successful that they have drained the previously inexhaustible Mpesa float. I expect Safaricom will try for a Bank licence, perhaps by buying one of the bottom tier stragglers (Mwalimu Bank, anyone?) before 2 years are up. It is only logical. In fact the only thing standing in the light of this move is the need to secure the Ethiotel opportunity. That one is yuuuge! No to banks. Brick and mortar on its deathbed. Data data data as a commodity, as a service, e-commerce, cloud computing etc. "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: Veteran Joined: 7/3/2007 Posts: 1,634
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murchr wrote:Wakanyugi wrote:tandich wrote:Once extravagant, Safaricom now tightens its fist
Good for Shareholders: - Cost optimisation - Sweating assets more - Customer service improvement Bad: - Altruistic reduction in cost of financial services. Only makes sense if demand is waning, which doesn't seem to be happening Innovations like Mshwari, Okoa Jahazi and Fuliza have proven so successful that they have drained the previously inexhaustible Mpesa float. I expect Safaricom will try for a Bank licence, perhaps by buying one of the bottom tier stragglers (Mwalimu Bank, anyone?) before 2 years are up. It is only logical. In fact the only thing standing in the light of this move is the need to secure the Ethiotel opportunity. That one is yuuuge! No to banks. Brick and mortar on its deathbed. Data data data as a commodity, as a service, e-commerce, cloud computing etc. Everything is data my frien' banking included. The future belongs to those who can innovate this primary raw material to create value. Protecting increasingly comoditized data and service buddle's in order to defend market share is a losing proposition in the long term. Thinking way out of the box is where Safaricom should be fighting this war. "The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Wakanyugi wrote:murchr wrote:Wakanyugi wrote:tandich wrote:Once extravagant, Safaricom now tightens its fist
Good for Shareholders: - Cost optimisation - Sweating assets more - Customer service improvement Bad: - Altruistic reduction in cost of financial services. Only makes sense if demand is waning, which doesn't seem to be happening Innovations like Mshwari, Okoa Jahazi and Fuliza have proven so successful that they have drained the previously inexhaustible Mpesa float. I expect Safaricom will try for a Bank licence, perhaps by buying one of the bottom tier stragglers (Mwalimu Bank, anyone?) before 2 years are up. It is only logical. In fact the only thing standing in the light of this move is the need to secure the Ethiotel opportunity. That one is yuuuge! No to banks. Brick and mortar on its deathbed. Data data data as a commodity, as a service, e-commerce, cloud computing etc. Everything is data my frien' banking included. The future belongs to those who can innovate this primary raw material to create value. Protecting increasingly comoditized data and service buddle's in order to defend market share is a losing proposition in the long term. Thinking way out of the box is where Safaricom should be fighting this war. Thinking out of the box is not buying a dead bank. Buying a bank was cool in 1900 not 2020. Banking will attract so much regulations yet there's easy money out there. When I say data i do not mean browsing MBs no I mean KYC, use data the same way FB and Google are doing it in target marketing. Safcom has so much data Sateesh said its like walking in a room filled with paper that you dont know what to do with. "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: Veteran Joined: 7/3/2007 Posts: 1,634
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murchr wrote:Wakanyugi wrote:murchr wrote:Wakanyugi wrote:tandich wrote:Once extravagant, Safaricom now tightens its fist
Good for Shareholders: - Cost optimisation - Sweating assets more - Customer service improvement Bad: - Altruistic reduction in cost of financial services. Only makes sense if demand is waning, which doesn't seem to be happening Innovations like Mshwari, Okoa Jahazi and Fuliza have proven so successful that they have drained the previously inexhaustible Mpesa float. I expect Safaricom will try for a Bank licence, perhaps by buying one of the bottom tier stragglers (Mwalimu Bank, anyone?) before 2 years are up. It is only logical. In fact the only thing standing in the light of this move is the need to secure the Ethiotel opportunity. That one is yuuuge! No to banks. Brick and mortar on its deathbed. Data data data as a commodity, as a service, e-commerce, cloud computing etc. Everything is data my frien' banking included. The future belongs to those who can innovate this primary raw material to create value. Protecting increasingly comoditized data and service buddle's in order to defend market share is a losing proposition in the long term. Thinking way out of the box is where Safaricom should be fighting this war. Thinking out of the box is not buying a dead bank. Buying a bank was cool in 1900 not 2020. Banking will attract so much regulations yet there's easy money out there. When I say data i do not mean browsing MBs no I mean KYC, use data the same way FB and Google are doing it in target marketing. Safcom has so much data Sateesh said its like walking in a room filled with paper that you dont know what to do with. I hope you are not getting het up, my frien'. Here is what I mean. The days of pure brick and mortar are coming to an end. Any business today is primarily data based or should be. If you are not leveraging on this resource, through innovation et.al. your are likely to become lunch for some of the 'woke' fellows making their business chops today. As for buying a 'dead bank', too bad. So long as Opus Dei stands between the fiscal goal posts that is the only way you are likely to get a banking license in Kenya today. "The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Wakanyugi wrote:murchr wrote:Wakanyugi wrote:murchr wrote:Wakanyugi wrote:tandich wrote:Once extravagant, Safaricom now tightens its fist
Good for Shareholders: - Cost optimisation - Sweating assets more - Customer service improvement Bad: - Altruistic reduction in cost of financial services. Only makes sense if demand is waning, which doesn't seem to be happening Innovations like Mshwari, Okoa Jahazi and Fuliza have proven so successful that they have drained the previously inexhaustible Mpesa float. I expect Safaricom will try for a Bank licence, perhaps by buying one of the bottom tier stragglers (Mwalimu Bank, anyone?) before 2 years are up. It is only logical. In fact the only thing standing in the light of this move is the need to secure the Ethiotel opportunity. That one is yuuuge! No to banks. Brick and mortar on its deathbed. Data data data as a commodity, as a service, e-commerce, cloud computing etc. Everything is data my frien' banking included. The future belongs to those who can innovate this primary raw material to create value. Protecting increasingly comoditized data and service buddle's in order to defend market share is a losing proposition in the long term. Thinking way out of the box is where Safaricom should be fighting this war. Thinking out of the box is not buying a dead bank. Buying a bank was cool in 1900 not 2020. Banking will attract so much regulations yet there's easy money out there. When I say data i do not mean browsing MBs no I mean KYC, use data the same way FB and Google are doing it in target marketing. Safcom has so much data Sateesh said its like walking in a room filled with paper that you dont know what to do with. I hope you are not getting het up, my frien'. Here is what I mean. The days of pure brick and mortar are coming to an end. Any business today is primarily data based or should be. If you are not leveraging on this resource, through innovation et.al. your are likely to become lunch for some of the 'woke' fellows making their business chops today. As for buying a 'dead bank', too bad. So long as Opus Dei stands between the fiscal goal posts that is the only way you are likely to get a banking license in Kenya today. Safaricom does not need to get into banking. They are alright in their space - fintech. The waalimu bank can die a natural death for all I care. "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: Elder Joined: 2/26/2012 Posts: 15,980
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Here comes real Safaricom competition as we are debating on how big Safcom is and how we can slice it to fit our small minds. Quote:President Kenyatta signs Data Protection Bill into law, meets Amazon executives
NAIROBI, 8 Nov 2019 (PSCU) – President Uhuru Kenyatta has today signed into law the Data Protection Bill 2019 and in a separate session met visiting executives of Amazon Web Services (AWS).
AWS is an enterprise of the American e-commerce giant Amazon that offers cloud computing services.
The new data law establishes the office of the Data Commissioner and sets out the requirements for the protection of personal data processed by both public and private entities.
It further outlines key principles that will govern data processing, sets out the rights of data subjects and assigns duties to data controllers and data processors.
In addition to setting the conditions for the transfer of personal data outside Kenya, the Act provides for the exemptions to processing of data and outlines data handling offences and attendant penalties.
The Bill was presented to the President for signature at State House Nairobi by National Assembly Speaker Justin Muturi.
Also present were National Assembly Majority Leader Aden Duale, Head of Public Service Joseph Kinyua, ICT CS Joe Mucheru, Attorney General Paul Kihara and State House Deputy Chief of Staff Njee Muturi.
The President's meeting with the Amazon Web Services executives led by Vice President Teresa Carlson was a follow up to a discussion the Head of State had with the group during his official visit to Washington last year.
During the meeting, the AWS Vice President applauded Kenya for the passage of the new data law and informed him of Amazon's plans to set up an "edge location" in Nairobi.
An edge location is where end users access services located on Amazon Web Services.
Ms Carlson said the new data law paves the way for the organization’s investment that will enable Nairobi to join other global cities as an edge location.
President Kenyatta welcomed the establishment of an edge location in the country by AWS and assured that Kenya has the requisite infrastructure and educated young population that will benefit from the business opportunities and jobs that will be created.
“I am delighted to welcome AWS’s investment in Kenya. The launch of Amazon CloudFront will put us in the forefront of accelerated innovation - enabling startups, enterprises and our government agencies to focus on building the best user experience,” the President said.
He added: “Kenya is an innovator in digital financial services in Africa. Having advanced cloud infrastructure in the country will support our ability to flourish as a nation and reach our potential as one of Africa’s fastest growing digital economies.”
The Head of State noted that the investment by Amazon will help strengthen Kenya’s position as a regional business hub.
“This is key for us especially now that we are going digital on almost everything. We are currently building the digital infrastructure and we welcome any support that we can get from you,” the President told the Amazon team.
Ms Carlson said her organization will also provide training in digital skills and help in the creation of quality jobs for the youth in Kenya.
The AWS cloud platform offers featured services to millions of customers including the fastest-growing startups, largest enterprises and leading government agencies.
Some of the benefits of the edge location provided by AWS include giving businesses and web application developers an easy and cost effective way to distribute data housed in Kenya to thousands of users with low latency and high data transfer speeds.
The service will allow businesses quick and reliable access to their information, which improves the quality of internet to the end user and help reduce the cost of transferring data.
"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: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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murchr wrote:Here comes real Safaricom competition as we are debating on how big Safcom is and how we can slice it to fit our small minds. Quote:President Kenyatta signs Data Protection Bill into law, meets Amazon executives
NAIROBI, 8 Nov 2019 (PSCU) – President Uhuru Kenyatta has today signed into law the Data Protection Bill 2019 and in a separate session met visiting executives of Amazon Web Services (AWS).
AWS is an enterprise of the American e-commerce giant Amazon that offers cloud computing services.
The new data law establishes the office of the Data Commissioner and sets out the requirements for the protection of personal data processed by both public and private entities.
It further outlines key principles that will govern data processing, sets out the rights of data subjects and assigns duties to data controllers and data processors.
In addition to setting the conditions for the transfer of personal data outside Kenya, the Act provides for the exemptions to processing of data and outlines data handling offences and attendant penalties.
The Bill was presented to the President for signature at State House Nairobi by National Assembly Speaker Justin Muturi.
Also present were National Assembly Majority Leader Aden Duale, Head of Public Service Joseph Kinyua, ICT CS Joe Mucheru, Attorney General Paul Kihara and State House Deputy Chief of Staff Njee Muturi.
The President's meeting with the Amazon Web Services executives led by Vice President Teresa Carlson was a follow up to a discussion the Head of State had with the group during his official visit to Washington last year.
During the meeting, the AWS Vice President applauded Kenya for the passage of the new data law and informed him of Amazon's plans to set up an "edge location" in Nairobi.
An edge location is where end users access services located on Amazon Web Services.
Ms Carlson said the new data law paves the way for the organization’s investment that will enable Nairobi to join other global cities as an edge location.
President Kenyatta welcomed the establishment of an edge location in the country by AWS and assured that Kenya has the requisite infrastructure and educated young population that will benefit from the business opportunities and jobs that will be created.
“I am delighted to welcome AWS’s investment in Kenya. The launch of Amazon CloudFront will put us in the forefront of accelerated innovation - enabling startups, enterprises and our government agencies to focus on building the best user experience,” the President said.
He added: “Kenya is an innovator in digital financial services in Africa. Having advanced cloud infrastructure in the country will support our ability to flourish as a nation and reach our potential as one of Africa’s fastest growing digital economies.”
The Head of State noted that the investment by Amazon will help strengthen Kenya’s position as a regional business hub.
“This is key for us especially now that we are going digital on almost everything. We are currently building the digital infrastructure and we welcome any support that we can get from you,” the President told the Amazon team.
Ms Carlson said her organization will also provide training in digital skills and help in the creation of quality jobs for the youth in Kenya.
The AWS cloud platform offers featured services to millions of customers including the fastest-growing startups, largest enterprises and leading government agencies.
Some of the benefits of the edge location provided by AWS include giving businesses and web application developers an easy and cost effective way to distribute data housed in Kenya to thousands of users with low latency and high data transfer speeds.
The service will allow businesses quick and reliable access to their information, which improves the quality of internet to the end user and help reduce the cost of transferring data.
Competition really!! Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Ericsson wrote:murchr wrote:Here comes real Safaricom competition as we are debating on how big Safcom is and how we can slice it to fit our small minds. Quote:President Kenyatta signs Data Protection Bill into law, meets Amazon executives
NAIROBI, 8 Nov 2019 (PSCU) – President Uhuru Kenyatta has today signed into law the Data Protection Bill 2019 and in a separate session met visiting executives of Amazon Web Services (AWS).
AWS is an enterprise of the American e-commerce giant Amazon that offers cloud computing services.
The new data law establishes the office of the Data Commissioner and sets out the requirements for the protection of personal data processed by both public and private entities.
It further outlines key principles that will govern data processing, sets out the rights of data subjects and assigns duties to data controllers and data processors.
In addition to setting the conditions for the transfer of personal data outside Kenya, the Act provides for the exemptions to processing of data and outlines data handling offences and attendant penalties.
The Bill was presented to the President for signature at State House Nairobi by National Assembly Speaker Justin Muturi.
Also present were National Assembly Majority Leader Aden Duale, Head of Public Service Joseph Kinyua, ICT CS Joe Mucheru, Attorney General Paul Kihara and State House Deputy Chief of Staff Njee Muturi.
The President's meeting with the Amazon Web Services executives led by Vice President Teresa Carlson was a follow up to a discussion the Head of State had with the group during his official visit to Washington last year.
During the meeting, the AWS Vice President applauded Kenya for the passage of the new data law and informed him of Amazon's plans to set up an "edge location" in Nairobi.
An edge location is where end users access services located on Amazon Web Services.
Ms Carlson said the new data law paves the way for the organization’s investment that will enable Nairobi to join other global cities as an edge location.
President Kenyatta welcomed the establishment of an edge location in the country by AWS and assured that Kenya has the requisite infrastructure and educated young population that will benefit from the business opportunities and jobs that will be created.
“I am delighted to welcome AWS’s investment in Kenya. The launch of Amazon CloudFront will put us in the forefront of accelerated innovation - enabling startups, enterprises and our government agencies to focus on building the best user experience,” the President said.
He added: “Kenya is an innovator in digital financial services in Africa. Having advanced cloud infrastructure in the country will support our ability to flourish as a nation and reach our potential as one of Africa’s fastest growing digital economies.”
The Head of State noted that the investment by Amazon will help strengthen Kenya’s position as a regional business hub.
“This is key for us especially now that we are going digital on almost everything. We are currently building the digital infrastructure and we welcome any support that we can get from you,” the President told the Amazon team.
Ms Carlson said her organization will also provide training in digital skills and help in the creation of quality jobs for the youth in Kenya.
The AWS cloud platform offers featured services to millions of customers including the fastest-growing startups, largest enterprises and leading government agencies.
Some of the benefits of the edge location provided by AWS include giving businesses and web application developers an easy and cost effective way to distribute data housed in Kenya to thousands of users with low latency and high data transfer speeds.
The service will allow businesses quick and reliable access to their information, which improves the quality of internet to the end user and help reduce the cost of transferring data.
Competition really!! Do you think Safaricom is not in cloud computing? Data is not just web browsing Right now in the US the big fight is between Amazon and Microsoft over the US defense cloud computing initiative (Project Jedi) In Kenya - that verbiage about business hosting is just that - they are eyeing the storage of govt data - every govt database will eventually be housed in the cloud. Its time Safaricom expanded not just to house Kenya's data but Africa as well. Amazon is eyeing a piece of Africa through Kenya. "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: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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murchr wrote:Ericsson wrote:murchr wrote:Here comes real Safaricom competition as we are debating on how big Safcom is and how we can slice it to fit our small minds. Quote:President Kenyatta signs Data Protection Bill into law, meets Amazon executives
NAIROBI, 8 Nov 2019 (PSCU) – President Uhuru Kenyatta has today signed into law the Data Protection Bill 2019 and in a separate session met visiting executives of Amazon Web Services (AWS).
AWS is an enterprise of the American e-commerce giant Amazon that offers cloud computing services.
The new data law establishes the office of the Data Commissioner and sets out the requirements for the protection of personal data processed by both public and private entities.
It further outlines key principles that will govern data processing, sets out the rights of data subjects and assigns duties to data controllers and data processors.
In addition to setting the conditions for the transfer of personal data outside Kenya, the Act provides for the exemptions to processing of data and outlines data handling offences and attendant penalties.
The Bill was presented to the President for signature at State House Nairobi by National Assembly Speaker Justin Muturi.
Also present were National Assembly Majority Leader Aden Duale, Head of Public Service Joseph Kinyua, ICT CS Joe Mucheru, Attorney General Paul Kihara and State House Deputy Chief of Staff Njee Muturi.
The President's meeting with the Amazon Web Services executives led by Vice President Teresa Carlson was a follow up to a discussion the Head of State had with the group during his official visit to Washington last year.
During the meeting, the AWS Vice President applauded Kenya for the passage of the new data law and informed him of Amazon's plans to set up an "edge location" in Nairobi.
An edge location is where end users access services located on Amazon Web Services.
Ms Carlson said the new data law paves the way for the organization’s investment that will enable Nairobi to join other global cities as an edge location.
President Kenyatta welcomed the establishment of an edge location in the country by AWS and assured that Kenya has the requisite infrastructure and educated young population that will benefit from the business opportunities and jobs that will be created.
“I am delighted to welcome AWS’s investment in Kenya. The launch of Amazon CloudFront will put us in the forefront of accelerated innovation - enabling startups, enterprises and our government agencies to focus on building the best user experience,” the President said.
He added: “Kenya is an innovator in digital financial services in Africa. Having advanced cloud infrastructure in the country will support our ability to flourish as a nation and reach our potential as one of Africa’s fastest growing digital economies.”
The Head of State noted that the investment by Amazon will help strengthen Kenya’s position as a regional business hub.
“This is key for us especially now that we are going digital on almost everything. We are currently building the digital infrastructure and we welcome any support that we can get from you,” the President told the Amazon team.
Ms Carlson said her organization will also provide training in digital skills and help in the creation of quality jobs for the youth in Kenya.
The AWS cloud platform offers featured services to millions of customers including the fastest-growing startups, largest enterprises and leading government agencies.
Some of the benefits of the edge location provided by AWS include giving businesses and web application developers an easy and cost effective way to distribute data housed in Kenya to thousands of users with low latency and high data transfer speeds.
The service will allow businesses quick and reliable access to their information, which improves the quality of internet to the end user and help reduce the cost of transferring data.
Competition really!! Do you think Safaricom is not in cloud computing? Data is not just web browsing Right now in the US the big fight is between Amazon and Microsoft over the US defense cloud computing initiative (Project Jedi) In Kenya - that verbiage about business hosting is just that - they are eyeing the storage of govt data - every govt database will eventually be housed in the cloud. Its time Safaricom expanded not just to house Kenya's data but Africa as well. Amazon is eyeing a piece of Africa through Kenya. Safaricom has the infrastructure for connectivity to the servers Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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