M-PESA hits 21 billion transactions worth KSh 35.9 trillion
Date: 2023-05-11
Kenya’s leading mobile money payment platform, M-PESA has
recorded 21 billion transactions, worth KSh 35.9 trillion with a growing
customer base of over 32 million.
Announcing its full-year results for the 12 months to April
2023 in Nairobi on Thursday, Safaricom PLC revealed that M-PESA also
contributed 39.7 percent of its total revenue.
With more than 606,000 businesses accepting payments through
Lipa Na M-PESA, average customer usage was ta 24.6 transactions per month which
are more than double the pre-Covid period.
“489 million transactions were made
through the app worth KSh. 1.3 trillion generating KSh. 6.7 billion in revenue.
The M-PESA Business Super App had 251,000 business owners using it making 51.2
million transactions in the year worth 217 billion transactions generating KSh.
658 million in revenue.”
“We have delivered a solid financial performance with the Group Revenue at KES 310.9 billion in FY23 marked by an improved performance in the second half of the year despite the tough macroeconomic environment. Our most notable growth was in M-PESA, mobile data, and fixed revenues,” said Chief Financial Officer at Safaricom, Dilip Pal.
Launched in July 2022, M-PESA's partnership with Visa has 600,000 virtual card
users with KSh. 1.8 billion transacted. Merchant interoperability recorded KSh.
1 billion in transactions.
M-PESA continues to support government digitization partnering with the
national government to launch Hustler Fund and digitize the Women Enterprise
Fund. For the first time, devolved governments are set to benefit from a
dedicated County App and platform that will digitize all their services
including revenue collection.
By: Kanto Okanta
