Business News
M-Pesa lands in South Africa
South Africa’s largest mobile phone operator Vodacom has teamed up with Nedbank to unveil an M-Pesa mobile-based cash transfer service. The firm hopes to net over 13 million people who remain unbanked in Africa’s most developed nation. Photo/FILE
Posted Wednesday, September 1 2010 at 17:55
The service facilitated the transfer of Sh33 billion last month, compared to Sh20 billion in July last year. There were 19,500 agents as at the month of July.
While in the country recently, the US Under Secretary of State for Public Diplomacy and Public Affairs Judith McHale said that her country will leverage its technology by importing innovations from Africa as part of the Obama Administration’s bid to strengthen relations with the continent.
Citing the M-Pesa evolution, Ms McHale said her country’s economy could benefit by importing the revolutionary mobile money transfer system from Kenya.
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