A deal by South Africa’s biggest mobile network Vodacom to snap up 35% of Kenya’s Safaricom is set to unlock the latter’s mobile money service M-Pesa for more African countries.
Safaricom operates the world’s largest mobile money service in Kenya and is now looking to bring its style of M-Pesa offering to Nigeria and Angola, according to a Bloomberg report.
This planned expansion is made possible thanks to the deal with Vodacom: This is because UK operator Vodafone has an agreement with SA’s government to only expand in Africa through Vodacom.
There are plenty mobile money offerings from other networks across large parts of Africa. But the experience and expertise that Safaricom offers would make M-Pesa a serious rival.