Vodacom Group has succeeded in increasing its revenues by 20% annually from its mobile money operation across four markets, according to reports. Revenue from the mobile money service increased to $187 million during the financial year ended 31 March. During the period, Vodacom processed $1.85 billion through its m-Pesa platform, which operates in Tanzania, Lesotho, Mozambique and Democratic Republic of the Congo.
The figure excluded the impact of Kenyan operator Safaricom, which began filing alongside Vodacom in August after the South Africa-based operator group received a controlling stake from affiliate Vodafone.
Vodacom Group CEO Shameel Joosub is aiming to develop its m-Pesa pltform further to Safaricom-levels of “sophistication”.