The Central Bank of Kenya proposes to license stand alone money remittance service providers in a bid to regulate and control the diaspora remittance business which is growing at fast rates.

Safaricom has recovered from a loss of over KES 3 billion to post, what the company Chairman describes as, impressive results. Kenya’s leading mobile phone service provider posted a 94% profit after tax of KES 7.8 billion for the half year ended September 2012 from KES 4 billion…

. In addition to buying yourself data bundles, the service allows you to purchase bundles for other subscribers using your M-Pesa account. And that’s where the loophole lies.