Safaricom Posts A Growth In Its M-Pesa Users
Safaricom has now revealed that a total of Ksh.35.86 trillion was transacted on it’s Mpesa service in it’s financial year ended March 2023.
The company too announced that M-Pesa monthly active customers grew by 5.2% to 32.11 million up from 30.5 million witnessed in 2022.
In acknowledging the fact that Mpesa was their great source of revenue, the giant Telco stated that the high usage of chargeable transactions triggered the rise of revenue.
“M-Pesa remains the biggest revenue earner accounting for 39.7% of service revenue,” stated Safaricom board Chair Adil Khawaja.
Khawaja who’s the PLC Board chair claimed that the Russian-Ukraine war contributed to the slow growth of the Service.
“The slowdown in M-PESA growth was mainly due to macroeconomic effects on the economy which affected the business activity,”Stated the Chair.
The Telco too confirmed of being certified to fully operate in Ethiopia where it promised to roll out the service to earn more profits
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