Mobile payments platform M-Pesa has topped 50 million active users – measured by monthly active customers – telecommunications group Vodacom said on Tuesday.
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Standard Bank Group is taking a big bet on the future of mobile payments in Africa, launching a platform called Unayo that takes direct aim at Kenya’s M-Pesa and other mobile payment solutions.
Vodafone Group has hinted it could spin off its African mobile money service M-Pesa after its popularity soared through the coronavirus pandemic.
Vodacom Group reported a strong 9% advance in revenue in the first quarter of its 2022 financial year, reaching R24.8-billion. If it hadn’t been for rand strength, the figure would have been 14.2%.
The Global Partnership for Ethiopia, the Safaricom-led consortium that won a licence to build a network in the East African nation, has appointed Anwar Soussa to lead the venture.
Vodacom Group upgraded its medium-term operating growth target to mid-to-high-single digit on Tuesday after reporting a 3.7% jump in full-year earnings.
Safaricom of Kenya is holding talks with Amazon.com about the use of mobile money service M-Pesa on the e-commerce giant’s platform.
Kenya’s Safaricom posted a drop in its full-year core earnings as the impact of Covid-19 cut revenue from financial services and calls, though it predicted a recovery based on second-half numbers.
MTN Group is valuing its mobile money arm at R75-billion, joining African wireless carriers planning to list these businesses in a region that has more mobile money accounts than anywhere else in the world.
Africa’s mobile phone operators are ramping up plans to bring banking to millions of Africans, in some cases for the first time, after the coronavirus crisis caused a surge in use of digital financial services.