NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Wednesday, November 15, 2017

Vodacom reported rapid growth in its m-pesa mobile money userbase across every market the company operates the service in, as it prepares to export Safaricom’s wildly successful model to new countries.

Reporting its results for the six months to the end of September, Vodacom CEO Shameel Joosub said m-pesa customers and transaction numbers grew impressively in Tanzania, Mozambique, Lesotho and the Democratic Republic of the Congo (DRC).

Compared to the same point in 2016, Vodacom Tanzania reported a 12.7 per cent rise in active users for m-pesa to 7.9 million. Larger rises were reported in its other markets, though from a lower base.

Photo courtesy of J.Van de Gevel.