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Safaricom says banknote scanner roll-out runs to plan

Monday 10 June 2019 | 14:10 CET | News

Kenyan operator Safaricom says its drive to provide its agents with currency scanners to identify fake money will not be affected by the launch of new banknotes by the Central Bank of Kenya (CBK) more than a week ago, reports Business Day. Safaricom Chief Corporate Security Officer Nicholas Mulila told Business Daily that the telecom firm had already factored in the changes following a heads-up from the banking regulator in 2018. Even so, Mulila said Safaricom is monitoring the current batch to see if there may be a need for re-configuration. 

The company started rolling out the scanners in 2018 in efforts to curb circulation of fake currency and stem money laundering through M-Pesa, the biggest mobile money platform in the country. Safaricom says it has already provided 45,000 scanners to M-Pesa agents and aims to supply all of them by December, in the project estimated at KES 40 million. Safaricom has more than 156,000 mobile money agents according to its latest report.

The CBK gazetted the switch to new notes with KES 50, KES 100, KES 200 and KES 500 denominations on 31 May.


 



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Categories: Mobile & Wireless
Companies: Safaricom
Countries: Kenya
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