Vodacom, a South Africa-based mobile communications company owned by UK-based Vodafone, reportedly has announced the expansion its mobile pesa (M-Pesa) cash transfer service to Mozambique. The service allows users to send and receive funds using mobile phones. Funds can be deposited to and withdrawn from M-Pesa accounts at authorized outlets. Vodacom currently offers the M-Pesa service via affiliates in Afghanistan, the Democratic Republic of the Congo, India, Mozambique, South Africa and Tanzania.
As of 2012, Vodacom reported revenue of SAR 58 million (USD 5.8 million), operating profit of SAR 17 million (USD 1.7 million) and a customer base of 34 million. For the same year, Vodafone reported revenue of GBP 44.4 billion (USD 69 billion), operating profit of GBP 12 billion (USD 18.7 billion) and a customer base of 341 million.
By Makai McClintock, Research Associate
About M-Pesa
M-Pesa is a mobile money service that was launched in Kenya in 2007 and has since been replicated elsewhere in Africa and Asia. The “M” stands for “mobile,” and “pesa” means “cash” in Swahili. Launched in Kenya by Safaricom Limited, a Kenya-based cellphone service provider, M-Pesa was developed by Vodafone Group Private Limited Corporation, a British multinational mobile network operator. As of September 2012, M-Pesa serves approximately 17.2 million clients through 45,540 agent outlets in Kenya. South-Africa based Vodacom, a child company of Vodafone, operates the M-Pesa service in India.
Sources and Additional Resources
All Africa Story, “Mozambique: Vodacom Launches M-Pesa Service,” http://allafrica.com/stories/201305280313.html
Vodacom Financial Report, “Integrated Report for the Year Ended 31 March 2012”, http://www.vodacom.co.za/cs/groups/public/documents/document/pocm01-584680.pdf
MicroCapital, January 27, 2013, “MICROCAPITAL BRIEF: Rejecting Kenya’s M-Pesa Model, Central Bank of Nigeria Bars Telecommunications Companies from Becoming Licensed Mobile Money Operators,” https://www.microcapital.org/microcapital-brief-rejecting-kenyas-m-pesa-model-central-bank-of-nigeria-bars-telecommunications-companies-from-becoming-licensed-mobile-money-operators/
MicroCapital, October 30, 2012, “MICROCAPITAL PAPER-WRAP UP: The Jipange KuSave Experiment in Kenya,” https://www.microcapital.org/microfinance-paper-wrap-up-the-jipange-kusave-experiment-in-kenya-by-sarah-rotman-david-ferrand-stephen-rasmussen-published-by-cgap/
MicroCapital, February 7, 2012, “MICROCAPITAL BRIEF: MFTransparency Releases Microfinance Pricing Data for Mozambique” https://www.microcapital.org/microcapital-brief-mftransparency-releases-microfinance-pricing-data-for-mozambique/
MicroCapital, November 1, 2011, “MICROCAPITAL BRIEF: Standard Bank: Majority of Africans Lack Access to Microfinance, Other Financial Services”
https://www.microcapital.org/microcapital-brief-standard-bank-majority-of-africans-lack-access-to-microfinance-other-financial-services/
MicroCapital, August 14, 2011, “MICROCAPITAL BRIEF: MFTransparency, Mozambican Association of Microfinance Operators (AMOMIF) Launch Transparent Pricing Initiative in Mozambique”
https://www.microcapital.org/microcapital-brief-mftransparency-mozambican-association-of-microfinance-operators-amomif-launch-transparent-pricing-initiative-in-mozambique/
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