The Vodafone group has hinted that it could part ways with its African mobile money service M-Pesa after its popularity skyrocketed during the pandemic.
The platform offers peer-to-peer transactions in countries such as Kenya, Tanzania, Mozambique and Lesotho. He is now embarking on new financial services such as small loans, payroll and savings.
Vodafone CEO Nick Read said it made sense to keep M-Pesa within the telecom group for now, in order to maintain benefits like distribution and customer retention. “In the future, there may be opportunities to scale up further,” Read added.
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