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Africa’s Leading Mobile Money Providers Seal the Deal

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.