Jamii Telcom May Soon Launch Faiba Money to Rival M-Pesa

Jamii Telecom signals preparations to launch its own mobile money platform to rival its competitors.

The move may could be possible following its recent acquisition  of the 700MHz frequency that could allow the company widely known for its Faiba brand to operate 4G as well as mobile phone services with prefix 0747 on what the authority says is a “trial”.

The June 2017 edition of the Industrial Property Journal  advert shows that Jamii Telecom has applied to register five new distinct trademarks for payments and mobile money services. This is a clear indication of the direction the company is preparing to take. The new trademarks are Faiba Money, Faiba Mobile and Faiba Pay, others are Faiba 4G and Faiba Fixed.

M-Pesa currently enjoys the lions share in the mobile money market segment. Revelations from Vodafone shows  M-Pesa processed about six billion transactions globally in 2016 with 29.5 million active customers across 10 markets, at the close of December 2016, M-Pesa had almost 29.5 million active customers through a network of more than 287,400 agents in its 10 markets.

Equity Money, Mobikash, and Tangaza gained new subscribers. Equity Money and Mobikash recorded new  subscriptions at 1,240,503 and 1,772,696 (provisional). On the other hand, Tangaza recorded 503,556 subscriptions (provisional).

Orange Money had the least market share with 194,322 subscriptions.

Will it be Faiba Money, Faiba Mobile and Faiba Pay? time will tell.