Safaricom secures insurance licence after a four-year wait
- Safaricom secures insurance license from the Insurance Regulatory Authority.
- Launch of new insurance product Bima for M-Pesa users.
- Plans to broaden M-Pesa into a financial service provider.
Safaricom's entry into the insurance market through M-Pesa is a strategic move that could significantly enhance its service offerings and revenue streams. However, the company must navigate regulatory challenges and ensure that its insurance products meet the needs of its diverse user base to succeed in this competitive landscape.
