M-Pesa reaches 15 billion dollars in transactions

The M-Pesa digital wallet, operated by Vodacom Mozambique, the country's main mobile payment service, moves around 945 billion meticais (15 billion dollars) annually, representing 80% of the national Gross Domestic Product (GDP).

The information was released by the company's CEO, Sérgio Gomes, during the 1st edition of the CEO Forum Angola 2024, held recently in the city of Luanda, reports Forbes Lusophone Africa.

"The figures are significant when compared to Kenya, where the company has a turnover of approximately 31.5 billion meticais (500 billion dollars)," said Sérgio Gomes, who highlighted the strong dependence on the informal sector in M-Pesa transactions.

"This volume of transactions is largely driven by the informal sector, which is often not fully accounted for in GDP. However, it shows the impact of having ten million users and a large number of merchants integrated into our platform. "

For the CEO, "these figures are significant, especially when compared to the Kenyan market, where M-Pesa manages to reach 31.5 billion meticais (500 billion dollars)".

The M-Pesa mobile wallet, a partnership between the Vodacom Group and Safaricom, is, according to the article, the most successful mobile payment platform on the African continent, becoming a vital source of revenue for both telecommunications companies.

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