Nairobi, March 18 -- Safaricom has locked shareholder dividend disbursements to electronic platforms including bank transfers and M-Pesa, ditching the use of cheques for such transactions.

The telco, in a notice, has asked all its shareholders to update their details with its shares registrar to provide information stating their preferred electronic payment mode.

Safaricom said the switch will allow it to pay its shareholders in a "more efficient way".

"In an effort to efficiently communicate with our shareholders, it is hereby brought to your notice that Safaricom Plc through its shares registrar, Image Registrars Ltd, requires all shareholders to update their contact information, dividend payment details and convert to electronic pay...