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Safaricom now controls Sh273bn in M-Pesa funds
From Left; CEO of Safaricom Telecommunications Ethiopia PLC Wim Vanhelleputte, CEO of Safaricom PLC Peter Ndegwa and Chief Finance Officer Dilip Pal during Safaricom’s 2023/2024 half-year financial results announcement on November 9, 2023, at Michael Joseph Centre. PHOTO | BILLY OGADA | NMG
Safaricom’s customers are holding Sh273.9 billion in deposits in its mobile money service M-Pesa, making the telco one of the largest players in the financial services market.
The Nairobi Securities Exchange-listed firm has made the disclosure for the first time in its financial statements for the half year ended September. The funds grew by Sh74.9 billion from Sh199 billion at the end of March.
