Prime

Collymore says Safaricom will not risk CBK’s wrath over bitcoin transactions

Safaricom CEO Bob Collymore. He says the bitcon would expose M-Pesa to Central Bank of Kenya’s money laundering penalties. PHOTO | FILE

Safaricom CEO Bob Collymore has said the telecommunications giant will not agree to have bitcoin-related transactions on its M-Pesa system unless the virtual currency is authorised by the banking sector regulator.

Mr Collymore says the bitcon, a digital currency used online, would expose M-Pesa to Central Bank of Kenya’s (CBK) money laundering penalties.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.

Get it First!

Stay up to date on the editors' picks of the week.

Latest

  1. PRIME Kenya cash outflows fall by Sh25bn on Trump NGO cuts

  2. Banking lobby chief on scaling private sector credit, rates outlook and recent sector reforms

  3. PRIME 'Odd was ordinary': The unusual life of Anselm Croze

  4. PRIME Banks term capital rules on large lenders ‘premature’

In the headlines

View All