The government has rejected proposed legislation seeking to split Safaricom and M-Pesa, CS Joe Mucheru has said. The Information, Communication and Technology CS said doing so would send a negative precedent of punishing and suppressing innovative operators and discourage investment. He said M-Pesa is a national pride with more than 26 million subscribers, and has been cited in global Fintech forums. “The proposed legislative amendment to split Safaricom and M-Pesa is therefore not one supported by the government,” he said. The government will hasten the completion of the revised National ICT Policy and also review and finalise the draft policy on Science, Technology and Innovation, which was the basis of the Science, Technology and Innovation Act of 2013, the CS said.

Source: The Star March 09, 2017 21:22 UTC