Vodafone completes the sale of M-Pesa to Safaricom and Vodacom

Thursday 16 April 2020 13:58 CET | News

Mobile network operator Safaricom and mobile communications company Vodacom have completed the acquisition of mobile money platform M-Pesa from Vodafone.

The companies did not disclose the value of the transaction, which was first announced in 2019 and completed via a joint venture. Nevertheless, in 2019 the deal’s worth was estimated around USD 13 million.

M-Pesa, launched in Kenya, has evolved from a mobile money transfer application into a financial service platform, offering loans and savings in partnership with local banks, plus merchant payment services. It has approximately 40 million users and processes around a billion transactions every month, according to Safaricom and Vodacom’s joint statement.

It is now available for subscribers in Kenya, Tanzania, Lesotho, Democratic Republic of Congo, Ghana, Mozambique, and Egypt.

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Keywords: Vodafone, M-Pesa, Safaricom, Vodacom, mobile network, transactions , Kenya, mobile money, loans, banks, merchant, payments
Categories: Payments & Commerce
Countries: Kenya
This article is part of category

Payments & Commerce