This new strategy is as a result of the partnership between Safaricom and Tanzania mobile service operator Vodacom, to enable a seamless transactions between Kenya’s 18 million M-PESA customers and Tanzania’s 7 million M-PESA customers.
“This is a new chapter in the continuing growth story of M-PESA. Enabling transactions between Kenya and Tanzania will make more convenient for individuals to transact across borders and unleash the transformative power of a first of its kind cross-border payment system,” said Safaricom’s CEO Bob Collymore.
“The partnership will begin the journey for our over 7 Vodacom subscribers to send money to M-PESA subscribers and vice versa using the service and boost the volume of transactions and trade between the two countries,” said Rene Meza, CEO, Vodacom Tanzania.
M-PESA is currently present in 10 countries and has emerged as the most compelling mobile money service catering for both individual and corporate transactions (Kenya, Tanzania, South Africa, Lesotho, DRC, Egypt, Mozambique, India, Romania, and Fiji).