The M-Pesa mobile money transfer platform has reached 50 million active users in Africa to expand its services across the continent.
The mobile financial services platform is operated by Safaricomin Kenya and South Africa’s Vodacom, the operates the services through its subsidiaries in Tanzania, the Democratic Republic of the Congo, Mozambique, Lesotho, Ghana and Egypt.
Safaricom and Vodacom acquired the M-Pesa brand and platform from their UK parent company Vodafone Plc, which was founded in April last year the joint venture M-Pesa Africa.
The two telecommunications companies plan to expand M-Pesa beyond the existing markets.
Safaricom pioneered the money transfer service between people in March 2007 which has since grown into a lucrative platform also offering customer-to-company (C2B) and company-to-customer (B2C) services.
“14 years ago, we got MP esa came into being to connect our customers with each other and with different possibilities. We are excited to celebrate this remarkable milestone with our more than 50 million customers across the continent, “said Sitoyo Lopokoiyit, Managing Director of M-Pesa Africa, in a statement on Tuesday.
” We affirm our commitment and deepening our focus on more innovations that will continue to change our customers’ lives, ”he said.
In June, Safaricom launched the M-Pesa Super App, which allows users to receive money from friends , Family or. people who owe them money.
Customers of the app can also send money to multiple users of the mobile service, pay for insurance and buy tickets for buses, trains and concerts.
M -Pesa, which enables users to send and receive cash and pay for goods and services themselves on base phones, has increased Safaricom’s revenue in recent years.