M-Pesa profile in Safaricom rises
M-Pesa accounts for 38.3 per cent of Safaricom service revenue and dominant in payments eco-system. On the other hand, revenues from voice and messaging have been declining.
The value of M-Pesa transactions grew 34 per cent from Sh22 trillion in 2021 and has more than doubled when compared to Sh13.94 trillion transacted in 2020.
The volume of transactions also rose 34.9 per cent to 15.8 billion from 11.67 billion in 2020. The volumes have grown from 8.99 billion in 2020.
Safaricom wants M-Pesa to start issuing high-value lending such as car loans if the proposal to split the mobile money platform from the telecommunication business is approved.
Michael Joseph, the Safaricom chair said the separation will see Safaricom remain under the Communication Authority of Kenya (CA) while M-Pesa will be regulated by the Central Bank of Kenya (CBK), allowing it to deepen its financial services.
