Safaricom, the largest telecommunications company in Kenya is set to launch a new product ‘masoko,’ an online market place.
The telecommunications company described ‘Masoko’ as a product that will connect businesses to customers and other businesses but will hold no inventory.
The venture will be funded by the company’s profit. In March, Safaricom is said to have made a profit of Ksh.70.6 billion.
The telecommunication company targets Ethiopia which has a population of 100 million. The country has ousted Kenya from being East Africa’s largest economy.
CEO Bob Collymore stated that the move was influenced by the 35% sale of London based Vodafone to South African Vodacom saying that it opened space to expand to other African Countries without interfering with already established Vodacom territory.
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