Mobile Money
Latest articles about mobile money in African payments and fintech
MTN MoMo Ghana Posts GH¢1.7 Billion Revenue in First Quarter
MTN's mobile money service in Ghana reported revenue of GH¢1.7 billion for the first quarter of 2026. The result comes as MTN Group seeks fintech licenses across Africa and upgrades its Nigerian platform via a partnership with Ant International.
MTN Ghana Mobile Money Fee Suspended by Central Bank
The Bank of Ghana suspended a proposed transfer fee on MTN's mobile money service, citing consumer protection. This contrasts with Vodacom M-Pesa Tanzania's expansion via a new PayPal partnership for global payments.
Safaricom's zero-rated M-Pesa Kadogo transactions surpass 17 billion
Safaricom has recorded 17.1 billion fee-waived transactions under its M-Pesa Kadogo plan, which targets transfers of 100 Kenyan shillings or less. The initiative is designed to boost financial inclusion and user engagement on Africa's largest mobile money platform, which now serves 103 million customers.
MTN Rwanda Returns to Profit as Mobile Money Contributes Over Half of Revenue
MTN Rwanda reported a return to profitability in Q1 2026, with mobile money contributing 52% of service revenue. The results reflect a broader trend across MTN Group's African operations where fintech services are becoming central to revenue growth.
M-Pesa Visa Card User Base Expands 62% Amid Shift in Spending Patterns
Safaricom reported a 62% increase in active users of the M-Pesa Visa card, though customer spending declined. Concurrently, the Kenya Revenue Authority is working to integrate its real-time tax systems with the M-Pesa platform to simplify compliance.
Safaricom's M-Pesa Reaches Ksh100 Billion Daily Transaction Milestone
Safaricom CEO Peter Ndegwa announced that the M-Pesa mobile money platform now handles approximately Ksh100 billion in transactions daily in Kenya. Concurrently, Vodacom Tanzania has expanded its cross-border M-Pesa services to include China and Uganda through a partnership with Thunes.
MTN MoMo and Stabex Launch Rewards Program for Boda Riders in Uganda
MTN MoMo and Stabex International have launched a rewards program in Uganda that incentivizes motorcycle taxi riders to pay for fuel digitally. The partnership aims to increase digital payments adoption by embedding MTN's mobile money service into a critical daily expense for a large informal sector.
Mobile Money Drives Zambia's Financial Inclusion to Record 80.1%
Zambia's financial inclusion rate climbed to 80.1% in 2025, driven largely by mobile money adoption, according to a FinScope survey. Concurrently, financial service providers in other African markets, like Izwe S&L in Ghana, are launching digital tools to support the agent networks that underpin these mobile money ecosystems.
MTN MoMo Ghana CEO Outlines IPO Strategy and Expansion Roadmap
MTN MoMo Ghana's CEO Shaibu Haruna has outlined plans to diversify the fintech's services and pursue an IPO in the future, while also highlighting ongoing efforts to strengthen fraud controls and agent compliance. The company, which separated from MTN Ghana in 2025, aims to expand into savings, insurance, and investment products.
Vodacom Tanzania Announces $28 Million Upgrade for M-Pesa Platform
Vodacom Tanzania is investing $28 million to upgrade its M-Pesa mobile money platform, aiming to enhance transaction speed and system capacity for its 21 million users. The move underscores the operator's effort to maintain its dominant market position amid rising competition and evolving consumer demands in Tanzania's digital payments sector.
Safaricom Adds Privacy Feature to M-Pesa as Part of Major Platform Overhaul
Safaricom has launched a masked transaction feature for M-Pesa, giving users control over the visibility of sender and recipient names on their statements. The privacy tool is part of a wider platform update that includes merging M-Pesa into the new 'My OneApp', which integrates telecom services with a marketplace for third-party mini-apps.
Vodacom Tanzania invests $28 million in M-Pesa infrastructure
Vodacom Tanzania is investing $28 million to upgrade its M-Pesa mobile money infrastructure over the next two years. The company says the investment aims to improve service reliability and support the growth of Tanzania's digital economy amid increasing competition.
Safaricom to Implement Number Masking for M-Pesa Transactions in Kenya
Safaricom will begin masking customer phone numbers on M-Pesa transactions in Kenya from March 30, 2026, replacing them with anonymized identifiers to enhance privacy. The data minimization move in its home market occurs as M-Pesa expands its service portfolio in Ethiopia, recently securing a deal to facilitate digital tax collection for the Amhara region.
Vodafone Egypt Partners with TapTap Send for Direct Remittances to Mobile Wallets
Vodafone Egypt and TapTap Send have launched a service enabling instant international money transfers from over 30 countries directly into Vodafone Cash mobile wallets. The partnership aims to provide a faster, more accessible remittance channel for the Egyptian diaspora, leveraging Vodafone's extensive agent network and TapTap Send's digital platform.
Safaricom to Introduce Tap-to-Pay M-Pesa in Kenya Following Tanzania Pilot
Safaricom plans to launch a tap-to-pay feature for M-Pesa in Kenya, expanding a contactless payment service first introduced in Tanzania in March 2026. The service, developed with partners including Paymentology and Visa, allows payments via NFC-enabled phones directly from M-Pesa wallets, marking a significant evolution for the mobile money platform.
WhatsApp Banking in Africa: Promise Meets Pragmatism at a Crossroads
The emergence of WhatsApp banking in Africa presents both unprecedented opportunity and systemic risk. While 400 million African WhatsApp users signal massive potential, regulatory frameworks and infrastructure sovereignty remain critical challenges.
M-Pesa Ethiopia Partners with State Postal Service to Expand Network
M-Pesa Ethiopia has entered a partnership with the national postal service, EthioPost, to use its branches as agents for the mobile money service. The agreement aims to rapidly expand the physical network required for cash transactions in a key growth market.
M-Pesa Tanzania launches tap-to-pay feature for mobile money
M-Pesa Tanzania has launched a tap-to-pay feature, enabling contactless mobile money payments at point-of-sale terminals. The move aims to integrate the popular mobile wallet with global NFC payment infrastructure, reflecting a broader trend of deepening mobile money functionality across Africa.
Safaricom to Introduce New M-PESA Transaction Feature as User Base Reaches 40 Million
Safaricom will launch a new transaction feature on its M-PESA platform, details of which remain undisclosed. The announcement comes as the mobile money service reaches 40 million customers in Kenya, marking nearly two decades of operation and deep market penetration.
Safaricom's M-PESA Reaches 40 Million Customers in Kenya
Safaricom's M-PESA mobile money service has reached 40 million customers in Kenya, cementing its role as a national financial utility. The milestone comes as the company's Ziidi developer platform gains international recognition, highlighting Safaricom's dual focus on mass-market reach and technological innovation.
The MoMo Paradox: Ghana's Mobile Money Boom Fails to Lift Formal Financial Inclusion
Ghana's mobile money market shows a 'MoMo paradox,' with transaction value rising over 25% to GH¢1.56 trillion in 2025 while active accounts fell by one million. This highlights a gap between increased digital payments usage and stalled progress in formal financial inclusion.
Safaricom's M-Pesa reaches 40 million customers, adding six million in a year
Safaricom's M-Pesa mobile money service has reached 40 million active customers, adding six million users in the past year. The platform, which processed transactions worth KSh 40 trillion last year, is expanding from payments into a comprehensive suite of financial services including credit, savings, and cross-border transfers.
Safaricom's M-Pesa Reaches 40 Million Customers on 19th Anniversary
Safaricom's M-Pesa mobile money service has reached 40 million active customers in Kenya, adding six million users in the past year. The company is marking its 19th anniversary by highlighting its evolution from a payments tool into a broader financial ecosystem offering credit, savings, and merchant services.
MTN Ghana Reports 35.7% Rise in Mobile Money Income for 2025
MTN Ghana reported a 35.7% increase in mobile money income for its 2025 financial year. The growth underscores the vital role of digital financial services in the operator's strategy and reflects broader trends of rising mobile money adoption across Africa.