Safaricom made public the total number of its mobile money network users, M-Pesa, days after it switched on its network in Ethiopia.
According to the report, the users surged by two million in six months to October 2022 to 32 million.
This is a 6.6 percentage point
The Central Bank of Kenya (CBK) now seeks powers to regulate the fastest-growing Super Applications, better known as Super Apps due to hefty transactions they are handling on daily basis.
In Kenya, Safaricom launched its M-Pesa Super App in June 2021.
Other popular Super Apps recognised globally
M-Pesa services will now be available across the world, proving the platform’s formidable stand as one of Africa’s largest mobile money networks.
This is after it entered into a partnership with Visa for M-Pesa Visa Virtual Card to offer seamless transactions globally. The service will be
Safaricom and Visa, the global leader in digital payments, Thursday introduced the first M-PESA GlobalPay Visa Virtual card to open global shopping for Kenyan consumers.
The launch of the new M-PESA Visa virtual card will allow secure cashless payments at merchant locations in over 200 countries
Kenyans spent Ksh.169.1 billion on betting via M-Pesa in 2021, a 23.8 percent jump from Ksh.136 billion that was spent in the year 2020.
This is according to Safaricom’s financial report released May 12 when it recorded a 1.7 percent drop in its net profit to
Safaricom’s gigantic revenue record is likely to be tampered with, considering the government’s proposal to slash M-Pesa transaction rates.
National Cabinet Treasury Ukur Yatani is keen on making mobile money transactions affordable for Kenyans, who have been reeling from harsh economic times exacerbated by the coronavirus
Safaricom’s M-Pesa has crossed 30 million customers using the service every month in Kenya.
The milestone comes a few days after M-Pesa marked its 15th year since its launch in March 2007.
Kenya remains M-Pesa’s most active market accounting for more than 30 million of the service’s
M-PESA has marked 15 years since Safaricom and Vodafone launched the service in March 2007.
From its beginning in Kenya, M-PESA has grown to more than 51 million customers, 465,000 businesses, 600,000 agents and 42,000 developers across Kenya, Tanzania, Mozambique, the Democratic Republic of Congo, Lesotho,
M-Pesa transactions increased by 16.1 percent for the third quarter ended December 2021, strengthening Safaricom’s revenue portfolio.
“Our M-Pesa platform, including Safaricom, continues to scale at an impressive rate with transaction values up to 16.1 percent to exceed Ksh.3.2 trillion per month,“ said Vodacom in its
Safaricom has partnered with NSSF to enable customers to conveniently access services through the NSSF Mini App on the M-PESA Super App.
Customers can register for NSSF membership, keep track of their contributions, top-up and manage their NSSF account, and make Tenant Purchase Scheme (TPS) payments all within