[kictanet] Vodafone snubs Libra in favour of growing M-Pesa digital money

[Mwendwa Kivuva]

Vodafone has withdrawn from Facebook’s digital currency initiative Libra,
as regulators and bureaucrats circle overhead.

While Facebook might have become accustomed to sitting in the regulatory
spotlight, it seems other companies are not as accepting of the attention.
In an increasing tsunami of regulatory scrutiny, Vodafone has become the
latest company to withdraw from the Libra initiative, joining the likes of
Paypal and Mastercard.

“Vodafone Group has decided to withdraw from the Libra Association,” a
Vodafone spokesperson said.

“We have said from the outset that Vodafone’s desire is to make a genuine
contribution to extending financial inclusion. We remain fully committed to
that goal and feel that we can make the most contribution by focusing our
efforts on M-Pesa. We will continue to monitor the development of the Libra
Association and do not rule out the possibility of future co-operation.”


https://telecoms.com/501960/vodafone-snubs-libra-in-favour-of-m-pesa/
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