Vodacom Tanzania to expand M-PESA services via network upgrade

Mergers, Acquisitions and Financial Results

Vodacom’s Tanzanian operating subsidiary intends to expand coverage of its popular money transfer service M-PESA to even the most remote parts of the country, by dint of the TZS130 billion (USD83.8 million) network upgrade it is currently undertaking. Rene Meza, managing director of Vodacom Tanzania, says that the M-PESA service – launched in 2008 – is now taken by almost three million subscribers, helping to drive overall customer growth. Speaking in February this year, Meza said the sharp increase in subscribers was largely driven by people signing up to M-PESA, which has a claimed 85% share of total e-mobile commerce transactions in the country. It is clear that the money transfer service has made a significant contribution to the socio economic development of the country and ‘revolutionised’ the way many people do business there.

Meza is now confident that, with the planned network upgrade, Vodacom will be able to open up some otherwise ‘uncovered’ areas to its products and services.