Demand For Vodacom’s Mobile Money Services Continues To Grow

The Vodafone owned firm added that mobile money services revenue was up 23.8%, excluding currency translation effects, to R634 million.

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DIGITAL ECONOMY over a smart phone on blur background , business technology concept
DIGITAL ECONOMY over a smart phone on blur background , business technology concept (Photo Credit: www.shutterstock.com)

Vodacom reported on Tuesday 26% rise in mobile money (M-Pesa)  customers to 12.7 million in the quarter to end-June 2018. The figures exclude Kenya’s Safaricom, which was bought by Vodacom in 2017.

M-Pesa customers are based on the number of unique customers who have generated revenue related to M-Pesa during the last month.

The Vodafone owned firm added that mobile money services revenue was up 23.8%, excluding currency translation effects, to R634 million.

The mobile phone operator said its Tanzanian operation celebrated 10 years of M-Pesa with 6.8 million customers, up 14.7%.

“We continue to improve the eco-system, stimulating activity on the platform. In Tanzania, the ‘Lipa kwa’ our merchant payment solution has over 7 900 merchants now actively trading on the platform; the service has also recently been added in Mozambique,” the company said on Tuesday.

M-Pesa revenue now contributes 14.8% to international service revenue of R4.3 billion.

 

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