Ali,
Is the issue about Market Dominance really? Most conversations I have seen are drifting towards just declaring Safaricom as Market Dominant! That's not enough.
What is crucial is either the *abuse* and *risks* based on that market dominance, the equivalent of too big to fail!
And what is abuse? Say Safaricom based on its dominance as a data provider decided to promote it's LittleCab venture by slowing down Internet traffic for Uber & other competition users (incidentally, I was in a Uber ride not long ago and the driver mentioned strongly that he believes that is so...)
The studies that need to be undertaken should relate to whether Safaricom has used its position to advance its interests illegally.
However, regulators also should stop sleeping on their job, including CBK who should *mandate* that all Money Transfers Services (M-Pesa
et.al) should be inter-operable and have a clearing house similar to banks within at most 6 months.
That in one stroke would take most risk off M-Pesa.
Regards