According to Vodacom, the decision is based on the fact that the business sustainability of M-Pesa is predicated on achieving a critical mass of users. Based on our revised projections and high levels of financial inclusion in SA there is little prospect of the M-Pesa product achieving this in its current format in the mid-term.
Also, this decision does not affect M-Pesa customers in Tanzania, Lesotho, Mozambique and Democratic Republic of Congo, where the product continues to grow.
What`s more, Vodacom claims that they try to mitigate any inconvenience to customers impacted by the decision and assures all M-Pesa SA customers that their funds remain safe and readily accessible.
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