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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