Connect with us
huawei Y7 Prime 2018

M-Pesa Records 27.1 pc Global Growth to Million 25 Active Users

BUSINESS

M-Pesa Records 27.1 pc Global Growth to Million 25 Active Users


25 million active users are now on Vodafone M-Pesa, the company has announced, marking another accelerated growth for the innovative mobile money transfer service.

The company says across markets in Africa, Asia and Europe, active customers of M-Pesa increased by 27.1% to 25.3 million in the year ended 31 March 2016. This increase they say was boosted by market launches in Albania and Ghana and supported by a network of more than 261,000 agents in 11 M-Pesa countries.

“Since 2007, M-Pesa has enhanced the lives and livelihoods of people without bank accounts, giving them access to essential financial services through their mobile phones.’’ Vodafone Group Director of Mobile Money, Michael Joseph said. “I am delighted and proud that M-Pesa has reached the 25 million active customers milestone.  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.”

Currently, M-Pesa is available in 11 markets:  Kenya, Tanzania, South Africa, Democratic Republic of Congo, India, Mozambique, Egypt, Lesotho, Ghana, Albania and Romania.

Last year, Vodafone M-Pesa added some new features and services to the platform. The company also entered into partnerships with public and private sector organizations.  In Lesotho for example, Vodafone has entered into partnership with the Ministry of Social Development to pay welfare grants using M-Pesa.  In Kenya’s Ministry of Agriculture is now paying fertilizer subsidies using M-Pesa.  In India, the National Rural Livelihoods Mission is also using M-Pesa to enable financial inclusion for women’s groups and the National Rural Health Mission is using the service to disburse pre-natal health benefits.

M-Pesa customers in India are also using the service to pay for goods on Ebay, for taxis with TabCab and to book train tickets on India’s national railways.  Enterprises including Walmart are using M-Pesa in India to improve cash management and business efficiency.

Facebook Comments

Kanali is a freelance tech journalist based in Nairobi. For product reviews, pitches, guest posts or sponsored content, drop me an E-Mail at nickcanali@gmail.com/nkanali@techtrendske.co.le or call +254 727 503 198.

Click to comment

Leave a Reply

More in BUSINESS

Be notified of new posts by email!

Join 12,742 other subscribers

PODCAST: 24BIT

LATEST DEALS

LISTEN TO OUR LATEST PODCAST ON 24BIT HERE

Subscribe to our mailing list

* indicates required

Latest News

Advertisement
To Top