The Vodafone M-Pesa mobile money transfer service is being used by more than 25 million customers, the company has revealed.
For the 12 months until 31st March 2016, the number of active M-Pesa customers across Africa, Asia and Europe increased by 27.1% to 25.3 million. There are now more than 261,000 agents supporting M-Pesa in 11 countries.
Michael Joseph, Vodafone Group Director of Mobile Money, said “Since 2007, M-Pesa has enhanced the lives and livelihoods of people without bank accounts, giving them access to essential financial services through their mobile phones. I am delighted and proud that M-Pesa has reached the 25 million active customers milestone. M-Pesa continues to expand, evolving beyond traditional money transfers to encompass savings and loans, payment of salaries and benefits, settlement of utility bills and school fees and to enable vital health and agricultural solutions.”
Recent innovations include Lesotho’s Ministry of Social Development paying welfare grants using M-Pesa and Kenya’s Ministry of Agriculture paying fertilizer subsidies using M-Pesa.
M-Pesa was launched nine years ago by Vodafone’s Kenyan affiliate Safaricom.