M-Pesa Africa active users top 50 million

MK254

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May 11, 2013
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Mobile money transfer platform M-Pesa has hit the 50 million active users mark in Africa as it eyes to expand services across the continent.

The mobile financial services platform is operated by Safaricom in Kenya and South Africa’s Vodacom, which runs the services through its subsidiaries in Tanzania, the Democratic Republic of Congo, Mozambique, Lesotho, Ghana and Egypt.

Safaricom and Vodacom acquired the M-Pesa brand and platform from their UK parent firm Vodafone Plc to form the joint venture, M-Pesa Africa, in April last year.

The two telcos plan to grow M-Pesa beyond the existing markets.

Safaricom pioneered the person-to-person money transfer service in March 2007, which has since grown to a lucrative platform also offering customer-to business (C2B) and business-to-customer (B2C) services.

“14 years ago, we launched M-Pesa to connect our customers to each other and to different opportunities. We are delighted to celebrate this remarkable milestone with our more than 50 million customers across the continent,” Sitoyo Lopokoiyit, the M-Pesa Africa managing director, said in a statement on Tuesday.


 
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