Money News – In Brief

Mergers, Acquisitions and Financial Results

 - E-commerce specialist PayPal has launched its services in Egypt. The electronic payment alternative has now launched in Egypt and Lebanon, said Elias Ghanem, the general manager of PayPal for the Middle East and North Africa (MENA).
Ghanem said at the ArabNet conference that e-commerce in the MENA region was “a $9bn industry and is projected to reach $15bn by 2015”.

- Safaricom has signed a deal that allows subscribers to use its M-Pesa money transfer service to pay bills in more than 400 restaurants, deepening the uptake of electronic commerce in the country. The telco made the agreement with Eat Out Kenya, an online restaurant guide, and Kopo Kopo, a firm that helps small and medium-sized businesses to accept payments for goods and service through mobile platforms.

- Barclays (Zimbabwe) will be launching its mobile banking application Hello Money, in Zimbabwe this month.  Hello Money will allow Barclays account holders to transfer money to a Barclays account or to an account at another banking institution, airtime top up, mini statements and balance enquiries.