Dagoretti South Member of Parliament, John Kiarie is pushing for the separation of MPESA from Safaricom.
During a parliamentrary induction session with Central Bank Governor Dr Patrick Njoroge, John Kiarie argued that although some companies are registered as communication companies, they double up as banks.
What this means is that they only fall, and are regulated by the Communications Authority (CA), yet because they are also transacting money, there are some regulations that come from the Central Bank on which they depend.
In his presentation, John Kiarie is seeking clarity on whether the National Assembly can help the CBK with legislation. He adds that, that legislation would mean they break these telecommunication companies into different operating units; where the communication sits on its own and they are regulated by the CA, and they have a unit that is transacting in money, that will be regulated from CBK.
Although the CBK Governor Patrick Njorge did not immediately give a conclusive response, he alluded to the fact that the process is in progress.
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