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

[Ali Hussein]

Interesting...Most of the incumbent players are one by one abandoning
Libra. What gives? Pressure from regulators?

Here
<https://www.forbes.com/sites/sergeiklebnikov/2019/10/21/here-are-all-the-companies-that-bailed-on-facebooks-libra/#674681de3487>
are some of the other companies that have bailed out on Libra. The list
includes Visa, Mastercard, Stripe, Mercado Pago and eBay.

Pressure from regulators and policy makers is real.

Regards

*Ali Hussein*


Tel: +254 713 601113

Twitter: @AliHKassim

Skype: abu-jomo

LinkedIn: http://ke.linkedin.com/in/alihkassim
<http://ke.linkedin.com/in/alihkassim>




Any information of a personal nature expressed in this email are purely
mine and do not necessarily reflect the official positions of the
organizations that I work with.


On Thu, Jan 23, 2020 at 4:10 PM Mwendwa Kivuva via kictanet <
kictanet at lists.kictanet.or.ke> wrote:

> Vodafone has withdrawn from Facebook’s digital currency initiative Libra,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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