The separation and transfer of Airtel money from mobile service provider Airtel were announced by the Central Bank of Kenya on Tuesday.
The CBK said in a statement that the separation had begun in 2019 and that Airtel Money was now being run by Airtel Money Kenya Limited (AMKL).
Both mobile money and telecommunication services, which were formerly offered by a single company, will now be provided by separate entities.
Both AMKL and ANKL will now function as wholly-owned subsidiaries of Airtel Africa after the split.
“Press Release – Separation and Transfer of Mobile Money Business to Airtel Money Kenya Limited” CBK tweeted.