M-Pesa has reported a 27.1 per cent growth in its active users across Africa, Asia and Europe in the year ended March 2016, hitting a total subscriber base of 25 million. Vodafone Group Director of Mobile Money Michael Joseph said the surge in usage is attributed to M-Pesa’s entry into Albania and Ghana as well as support from a network of over 261,000 agents in countries of operation.
British telco Vodafone, which owns 40 per cent of Safaricom, has been launching the money transfer service in various choice markets around the world.
The mobile phone-based service operates in Kenya, South Africa,Tanzania ,Democratic Republic of Congo, India, Mozambique, Egypt, Lesotho, Ghana, Albania and Romania.
Michael Joseph said, “Since 2007, M-Pesa has enhanced the lives and livelihoods of people without bank accounts, giving them access to essential financial services through their mobile phones,”
In Kenya alone, M-Pesa has about 19 million active users transacting an estimated Sh15 billion daily. The global value of these transactions remains unknown as Vodafone declines to reveal these figures.
Its usage is expected to grow even more through cross-border arrangements such as Global Framework Agreements (GFA) with two international money transfer hubs, TransferTo and MFS For Africa.