Vodacom plans to phase out its “My Vodacom” smartphone app in favour of its VodaPay “super app” in the coming months.
Safaricom’s M-Pesa mobile money service went live in Ethiopia on Wednesday.
Safaricom’s popular payments platform M-Pesa was offline on Thursday, causing significant disruption in the East African nation.
Vodacom Group has reported an almost 37% year-on-year jump in revenue to R35.7-billion in the quarter ended 30 June.
Union54 is entering the race to develop super apps as investors look to tap Africa’s increasingly tech-savvy market.
M-Pesa and Visa have launched a virtual payment card in a bid to capture some of Africa’s $40-billion/year subscriptions market.
Vodacom Group is mulling a bond issue and will pay a smaller proportion of its earnings in dividends as it looks to finance new growth plans.
Safaricom is encouraged by the positive outlook in Ethiopia and plans to start operations there this year, its CEO said.
VodaPay and other financial services offerings are playing an increasingly important role in Vodacom Group’s growth story.
Vodacom Group is targeting a 27% expansion in its financial services customer base to 73 million by March 2024.