VENTURES AFRICA – MTN Mobile Money and M-Pesa clients in East Africa will shortly be allowed to transmit money to each other for the first time, South Africa’s mobile operators, MTN and Vodafone, said on Tuesday.
Vodacom and Safaricom customers in Tanzania, Kenya, DRC and Mozambique will now make international payments with MTN users in Zambia, Rwanda and Uganda, and vice versa. This not only provides an expansive money transfer medium but adds to the growing list of endorsements that has rubber-stamped the innovative genius called M-Pesa.
The revolutionary service has single-handedly placed Kenya on the map by becoming one of the most utilized mobile money services in the world. It has already locked down more than 17 million accounts in Kenya and is quickly spreading its tentacles to Europe and Asia.
Mobile money services have come to be known as having become a huge hit in East Africa, chiefly in Kenya, where Safaricom initiate the model with M-Pesa. M-Pesa has also shot the lights out in terms of being a winner in Tanzania for Vodacom, a parent company to Safaricom.