Advertisement

M-Pesa hits 25 million users as Vodafone eyes new markets

Tuesday April 26 2016
mj mpesa

Vodafone director of mobile money Michael Joseph. PHOTO | FILE

M-Pesa has hit over 25 million active customers globally, marking another year of accelerated growth for the innovative mobile money transfer service.

The platform has experienced a surge in usage across Africa, Asia and Europe, with active customers increasing by 27.1 per cent to 25.3 million in the year ended March 31, 2016.

British telecom firm Vodafone, which owns a 40 per cent stake at Kenya's Safaricom, attributed the growth to new market launches in Albania and Ghana.

The telco said that the growth was also supported by a network of more than 261,000 agents in 11 M-Pesa countries.

READ: M-Pesa now spreads to seven African countries

“Since 2007, M-Pesa has enhanced the lives and livelihoods of people without bank accounts, giving them access to essential financial services through their mobile phones,” Vodafone Group Director of Mobile Money, Michael Joseph, said.

Advertisement

“I am delighted and proud that M-Pesa has reached the 25 million active customers milestone. M-Pesa continues to expand, evolving beyond traditional money transfers to encompass savings and loans, payment of salaries and benefits, settlement of utility bills and school fees and to enable vital health and agricultural solutions,” he added.

Vodafone's partnerships in its countries of operations have enabled it to leverage the platform to make payments easier. For instance, Ministry of Social Development in Lesotho pays welfare grants using M-Pesa while Kenya’s Ministry of Agriculture also pays fertiliser subsidies using M-Pesa.

In India, the National Rural Livelihoods Mission uses M-Pesa to enable financial inclusion for women’s groups and the National Rural Health Mission is using the service to disburse pre-natal health benefits.

Meanwhile, in Mozambique, some development agencies use the platform to pay employee salaries and allowances, water, electricity and pay television companies in the country collect payments via M-Pesa.

Advertisement