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Africa’s Leading Mobile Money Providers Seal the Deal

An employee assists a customer to set-up M-Pesa money transfer servive on his handset inside a mobile phone care centre operated by Kenyan's telecom operator Safaricom; in the central business district of Kenya's capital Nairobi, file. REUTERS/Thomas Mukoya

Kenya’s leading telecom firm Safaricom and South Africa’s Vodacom said on Monday that they have completed the acquisition of the popular mobile money platform M-Pesa from Britain’s Vodafone, the companies said in a statement. The firms said that the acquisition of M-Pesa’s brand, product development and support services from Vodafone was done through a newly-created joint venture. “The transaction, which was first announced in 2019, will accelerate M-Pesa’s growth in Africa by giving both Vodacom and Safaricom full control of the M-Pesa brand, product development and support services as well as the opportunity to expand M-PESA into new African markets,” they said in a statement.

SOURCE: REUTERS AFRICA

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