Wednesday
May 17
2017

Safaricom is planning to expand M-Pesa mobile money across Africa

Safaricom is planning to take its successful mobile money service M-Pesa across Africa after building a dominant home base in Kenya and presence in its East African neighbors.

The news came after UK’s Vodafone Group transferred its 35% stake in Safaricom to its South African subsidiary, Vodacom. Subject to shareholder and regulatory approvals, the proposed transaction will cost Vodacom 34.6 billion rand ($2.6 billion) in exchange for the stake.

Source: Quartz (link opens in a new window)

Categories
Technology
Tags
consumer products, digital payments, fintech, Kenya, mobile finance, mobile money, Safaricom, technology