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M-Pesa global transactions hit six billion in 2016

Safaricom’s majority shareholder Vodafone said in a statement M-Pesa processed about six billion transactions globally in 2016. PHOTO | FILE
Safaricom’s majority shareholder Vodafone said in a statement M-Pesa processed about six billion transactions globally in 2016. PHOTO | FILE 

Mobile money service M-Pesa processed about six billion transactions globally in 2016 with 29.5 million active customers across 10 markets, Vodafone has revealed.

The transactions peaked in December at 529 transactions every second, Safaricom’s majority shareholder Vodafone said in a statement to mark the 10th anniversary of the launch of the money transfer service in Kenya.

According to the statement, as of the end of December 2016, M-Pesa had almost 29.5 million active customers through a network of more than 287,400 agents in its 10 markets. Kenya remains the largest market for the service, accounting for nearly 60 per cent of the global M-Pesa user base.

“M-Pesa has empowered tens of millions of people in some of the poorest communities in the world to start and grow businesses and gain greater financial resilience,” said Vodafone Group managing director of M-Pesa Michael Joseph.

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