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
.
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.