While releasing financial results for the half year ended
The drop in MPESA revenue comes at a time when the telco provider implemented a waiver on money transactions to encourage widespread adoption of cashless payments.
Darcy noted that the move affected transfers and payments and was further affected by betting which continued to decline as the firm felt the impact of the contraction of the industry.
Overall, the telco's net profit decreased by 6.0 percent to Shs 33.07 billion with service revenue hitting Shs 118.41 billion.
"There is no doubt that COVID-19 has dealt a huge blow to many people not just in
Meanwhile, the firm's service revenue dropped by 4.8 percent drop while the firm's capital expenditure increased by 25.5% to Shs 22.75 Billion.
"As we go into our third decade as an organization, we aim to create a technology business by developing new digital ecosystems in health, agriculture and education sectors as we aim to provide digital solutions for our customers," added Ndegwa
As part of its strategy, the firm also announced plans to provide 100 percent 4G network coverage across the country by end of this year as part of its growth strategy focused on being the technology partner of choice.
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