Tanzania’s leading telecommunications company Vodacom has announced the expansion of its International Money Transfer (IMT) services to eight new countries in the Southern Africa Development Community (SADC).
Vodacom, owned by Safaricom’s parent company Vodafone will now operate Vodacom M-Pesa in South Africa, Malawi, Zambia, Zimbabwe, Lesotho, Mozambique, Swaziland, and the Democratic Republic of Congo (DRC). The M-Pesa service is already available in 200 countries globally, allowing Tanzanians to easily carry out transactions across borders.
Stargomena Tax, Tanzania’s Minister of Foreign Affairs and East Africa Cooperation said, “The entrant of mobile money in international remittance has not only improved ease of access but also reduced the cost of transfers bringing us closer to achieving the United Nations Sustainable Development Goal Number 10 .”
Stargomena further said that the new development is a testament to the enabling environment created by friendly policies in Tanzania, allowing global financial connectivity.
Vodacom M-Pesa IMT started the journey in 2014 by enabling money transfers to Kenya. In 2019, its services were expanded to customers across East Africa and over 200 countries. Last year, the company expanded the ability of the app enabling Tanzanian customers to send money from M-Pesa to all bank accounts in Kenya, Uganda and Rwanda.