South Africa’s Vodacom resists Kenyan push to split M-Pesa from Safaricom

Vodacom Group, South Africa’s largest telecom, has ruled out separating its M-Pesa mobile money platform from Safaricom and listing it separately, despite renewed pressure from Kenyan authorities to unbundle the telecom operator’s core businesses.

The company, which holds a 40% stake in Safaricom alongside the Kenyan government, said M-Pesa’s operations were too closely integrated with the…