NAIROBI, Kenya, Sept 7 – Safaricom has announced that its mobile money service M-Pesa has reached 50 million monthly active customers.
M-Pesa Africa MD, Sitoyo Lopokoiyit, in a statement, reaffirmed the firm’s commitment to come up with more innovations that will further transform the lives of its customers across Kenya, Tanzania, Mozambique, DRC, Lesotho, Ghana, and Egypt where it operates.
In 2020, Safaricom and Vodacom launched the M-Pesa Africa Joint Venture which seeks to accelerate the growth of the service across the continent
“We are delighted to celebrate this remarkable milestone with our more than 50 million customers across the continent. As an honor to this achievement, we are reiterating our commitment and deepening our focus on more innovations that will further transform the lives of our customers,” Sitoyo said.
M-Pesa Africa aims to deliver digital platforms as part of its focus to be the largest fintech and digital ecosystem across the continent.
In 2007, Safaricom and Vodafone launched M-Pesa in Kenya which gained traction and has largely contributed to the growth of formal financial inclusion across the continent which has gone up to 55 percent.
The service has more than 430,000 active agents while nearly 49.7 million people are making over 15.2 billion transactions each year through the app.
