M-pesa platform management relocated to KenyaSafaricom and Vodacom have completed the acquisition of the M-PESA brand, product development and support services from Vodafone 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. Shameel Joosub, Vodacom Group CEO, says “This is a significant milestone for Vodacom as it will accelerate our financial services aspirations in Africa. Our joint venture will allow Vodacom and Safaricom to drive the next generation of the M-PESA platform – an intelligent, cloud-based platform for the smartphone age. M-PESA is operational in Kenya, Tanzania, Lesotho, Democratic Republic of Congo, Ghana, Mozambique and Egypt.

Source: Standard Digital April 06, 2020 10:34 UTC