M-Pesa, the East African mobile money service, is now under full ownership by two of Africa’s largest telecoms companies.
Safaricom, based in Kenya, and Vodacom, based in South Africa, have acquired the stake previously held by UK telecoms operator Vodafone. Vodafone had been a longstanding stakeholder in M-Pesa since its initial launch in 2007. Although the service has predominantly been associated with Safaricom over the years, Vodafone had earned license fees from its usage. However, with the recent change in ownership, Safaricom and Vodacom will now have complete control over M-Pesa’s products, brand, and future plans.
