Vodafone announces 25 million active M-Pesa users
UK telco Vodafone has announced that M-Pesa, its mobile money platform designed for developing markets, grew by 27% last year to top 25 million active global users.
M-Pesa was launched back in 2007 by Kenyan operator Safaricom, with part-owner Vodafone’s backing. Its aim is to provide basic banking and money transfer facilities to people otherwise denied them via their phones and operator accounts. It subsequently expanded to other African countries as well as Afghanistan, India, Romania and, most recently, Albania. It is now found in 11 countries and has 261,000 agents offering it.
“I am delighted and proud that M-Pesa has reached the 25 million active customers milestone,” said Vodafone Group Director of Mobile Money, Michael Joseph. “M-Pesa continues to expand, evolving beyond traditional money transfers to encompass savings and loans, payment of salaries and benefits, settlement of utility bills and school fees and to enable vital health and agricultural solutions.”
Other current uses for M-Pesa include working with governments to make welfare and subsidy payments, enabling payment through third-party mobile apps, and providing a channel for charity donations to get into the hands of those they’re intended for. In addition partnerships with organisations such as TransferTo and MTN Mobile Money are giving the service further reach.
Hi
The correct name of the Operator in Kenya is Safaricom and not Safari. As well, the active subscriber base in Kenya alone is 23 million . I was involved in the first integration of M-Pesa in 2007. It is estimated that 42% of Kenya’s GDP is transacted via M-Pesa. It is a huge deal in Kenya
Thanks. The Safaricom thing was a typo, now corrected. Interesting to hear how big it is in Kenya.