Sports Betting in Kenya Lifts Vodafone Mobile-Money Volumes
Wednesday, May 11, 2016
Kenyans using mobile-money platform M-Pesa to bet on the outcome of sporting events helped Vodafone Plc’s unit in the East African country boost transaction volumes by 48 percent in the past year.
The service, offered by Safaricom Ltd. in East Africa’s biggest economy, is now transacting about 5 billion shillings ($50 million) day, Chief Executive Officer Bob Collymore, 57, said in an interview May 7 in the capital, Nairobi. M-Pesa, which means mobile money in the Swahili language, can now handle 900 transactions per second, compared with 320 previously, after Safaricom moved its servers to Kenya from Germany to improve efficiency, he said
“We’re seeing tremendous growth,” Collymore said. “Sports betting is one which is using M-Pesa a lot and had we not done this we would have really struggled to meet capacity there. That sector has now absolutely overtaken everyone else.”