Investors often take time to get used to the fact that ‘the big dip’ is not coming and previous highs will now be the current lows. Safaricom and Airtel have agreed to pilot a mobile wallet which will allow users to seamlessly send and receive money across networks in real time, in contrast to the current system which only allows cashing money received from an alien network. Rival networks will have to increase the number of agents to meaningfully affect the power of Safaricom’s market penetration. Safaricom currently has over 130,000 Mpesa agents. Over the past 5 financial years, Mpesa revenue has grown by about 21.6% per financial period on average. Interoperability of the money transfer service may require the telecommunications giant to reduce its rates to match those of its cheaper competitors, thus taking a toll on revenue. On the bright side, it will allow the NSE listed company to tap into its competitor’s traffic.-KWS