THElatest data released today shows that the value of Vodacom’s mobile money platform, M-PESA, continues to rise at an impressive rate, with transaction values exceeding R5.7 trillion in the quarter ended 30 June 2022.
Vodacom also informed investors that M-PESA had attracted 807 000 new customers.
M-Pesa revenue grew 11.8% to R1.4 billion and was up 3.4% on a normalised basis.
The company added that excluding the impact of the mobile money levies in Tanzania, normalised M-Pesa revenue increased 18.1%, highlighting the strong underlying growth momentum in customer and product adoption.
“We added 807 000 M-Pesa customers in the quarter, with penetration of our 30-day active base at 47.7%,” said Shameel Joosub, Vodacom Group CEO.
“New growth areas such as lending and savings products continue to gain traction.
“We granted loans of R1.8 billion in the quarter, up 71.2%, supported by products such as ‘Songesha’ in Tanzania and ‘Txuna’ in Mozambique.”
Vodacom said M-PESA transaction values processed on its platform over the last twelve months, including Safaricom, was $339.8 billion or R5.7 trillion, up 20.2%.
Vodacom also announced that group revenue in the first quarter was up 5.2% to R26.1 billion underpinned by a resilient financial performance in most of our markets and South Africa in particular.
“Our service revenue growth was supported by a 10.4% increase from our International portfolio and 9.3% growth from our financial services business. The growth rate in financial services was dampened by mobile money levies in Tanzania, and if adjusted for this impact would have been an estimated 19.7%.”
