Money - In Brief

Money Transfer

- Vodacom Tanzania says that the number of people signed up to its mobile money transfer service M-PESA has broken the five million barrier, while total monthly transactions now stands at TSZ1.3 trillion (USD823.3 million). The figures compare favourably to 4.5 million subscribers and USD622 million in transactions when the carrier released its last M-PESA update in February this year.

- Stanbic IBTC Bank Limited has announced the introduction of the 'Stanbic IBTC MobileMoney' application for smart phones. The product is expected to run on blackberry and android operating systems.