Mobile money platform M-Pesa is now processing transactions of Sh1.6 trillion per month in Kenya and other African countries, making it the largest payment platform on the continent.

The broader performance of M-Pesa has been disclosed by South Africa’s Vodacom Group which owns the financial service on a 50/50 basis with Safaricom

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Vodacom also owns a 35 percent stake in Safaricom. The two firms teamed up in April to acquire the M-Pesa brand from their London-based parent firm Vodafone Group Plc through their investment vehicle M-Pesa Global Services Limited.

“Since launching in 2007, M-Pesa has grown to have the largest reach of any financial services provider in Africa, with 39.6 million active customers, including Safaricom, up 9.7 percent year-on-year,” Vodacom says in its latest annual report for the year ended March. Read more