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Mobile operator Airtel Kenya, has announced it has split its mobile money business into a separate entity known as Airtel Money Kenya Limited.

The move follows the entry of minority shareholders into the venture and going forward, Airtel Money Kenya will now be run and regulated by the Central Bank of Kenya as a standalone business.

“We wish to inform … the general public that to better serve our customers, we have separated and transferred the Airtel Money Business from Airtel Networks Kenya Limited to Airtel Money Kenya Limited,” the company said in a notice.

“Following this business separation, Airtel Money Kenya Limited will take over and continue the provision of the Airtel Money Services, in collaboration with the licensed telecommunications network of Airtel Networks Kenya Limited.”

The company added that the two businesses will continue to share customer data and that continued use of the mobile money service will be deemed as proof of a customer’s acceptance of that fact.

Similar changes in ownership of the mobile money businesses were also witnessed in markets such as Rwanda, Tanzania, and Zambia.

Safaricom has also faced calls to separate its mobile money business but the company said that it would prefer not to spin off the business, saying the service benefits from the existing synergies with other offerings including voice, SMS, and data.

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