Since then, it has become one of the largest mobile-based financial services in Africa as over 40-million users and 400 000 agents use the service across seven African countries.
Safaricom is one of the largest mobile-based financial services in Africa
In 2008, South African telecoms operator, Vodacom, launched M-Pesa in Tanzania. It also launched in South Africa and Lesotho in 2010 and 2013, although the telco stopped operations in the former in 2016.
To keep operating M-Pesa in their respective markets, Vodafone consolidated its position in the two telcos. It has a 60% stake in Vodacom and a five percent stake in Safaricom.
Also, both Vodacom and Safaricom had to pay five percent and two percent of their M-Pesa annual revenue to the UK telco operator.
Last year, the African telcos began talks to acquire the whole M-Pesa brand from Vodafone. The pair planned to do this via a Click here to read entire article
Source:: Venture Burn