M-Pesa hits 30 million active monthly users
Safaricom’s mobile money platform M-Pesa now
has 30 million active monthly users in Kenya.
This is up from 28.7 million monthly active
subscribers at the end of September 2021 to represent a 4.5 per cent growth
rate in usage over the last five months.
The growth in usage represents not just the
popularity of the payments platform but also underlines the growth of mobile
money solutions in the country.
Across the region, M-Pesa has in excess of 20
million other customers in markets including Tanzania, the Democratic Republic
of Congo (DRC), Mozambique, Lesotho, Ghana and Egypt.
According to the telco operator, growth in
M-Pesa customer usage has been driven by innovations including new financial
services such as M-Shwari, KCB M-Pesa and Fuliza.
“M-Pesa’s success has been achieved on the
back of consistent focus on the needs of our customers by ensuring that we are
constantly delivering innovations that add value to their lives,” said Safaricom CEO Peter Ndegwa.
“As the country goes digital with growing
smartphone usage, we are committing to continue exploring and delivering
life-changing innovations in a digital world."
Safaricom and its parent Vodacom have
indicated that they’re focusing on growing the service in other markets with
the goal of appraising its offer to the same level as that in Kenya.
In April 2020, the pair unveiled M-Pesa
Africa which brings together the platform's resources, strategy and roadmap.
In six months to September 2021, the value of
M-Pesa transactions stood at Ksh.13.7 trillion with each of the monthly active
customers having at least 18 chargeable transactions per month.
During the period, M-Pesa revenues were up by
45.8 per cent at Ksh.52.3 billion following the return on transaction fees for
person to person transfers of up to Ksh.1,000.
M-Pesa is Safaricom’s cash-cow contributing
to nearly 38 per cent of all its service revenues.
On Monday, the platform marked its 15-year
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