Browsing: M-Pesa Kenya


Kenya’s Safaricom M-Pesa —one of Africa’s and East Africa’s largest mobile money service, could be affected by the coronavirus pandemic (COVID-19), as the service provider anticipates its revenue to be hit to almost $51.64 million in the three months from mid-march after it adjusted prices because of the COVID-19 crisis, according to information from Reuters

According to Reuters, the lost revenue which is almost 7.3 per cent of the mobile money service provider annual revenue, will be caused by the removal of all charges on small peer-to-peer transfers to facilitate cashless payments to help to contain the coronavirus pandemic, which has already taken a toll in other crucial sectors of the East African economy.

As one among the region’s and global leader in the industry, the South African and Britain owned company is not worried by the forecast, as the company’s CEO Peter Ndegwa told Reuters, that they anticipate getting …