M-Pesa records transactions worth Ksh.35.8 Trillion

Safaricom CEO Ndegwa [Photo: Kenyan Wallstreet]

Safaricom says M-Pesa is still their leading revenue earner. 

It says last year, Kenyans transacted a staggering 35.86 trillion shillings through its mobile services platform M-Pesa.

This is according to audited results for the Financial Year ended March 2023.

Safaricom attributed the rise in M-Pesa revenue to increased usage and growth of chargeable transactions per one-month active customers by 16.2 percent. 

According to the telco, while M-Pesa’s monthly active customers grew by 5.2 percent to 32.11 million, the Average Revenue per Unit rose 1.9 percent Year over Year to 311.28 shillings.

At the same time, Safaricom announced that it has officially been granted the license to operate mobile money services in Ethiopia.

“We are excited that this is a great milestone following our entry into Ethiopia. This positions us to provide essential financial services to the Ethiopian population. We are looking forward to launch and roll out the service over the next few months,” said Safaricom CEO Peter Ndegwa. 

“Since the commercial launch in October, the brand is visible, deeply rooted in Ethiopia and quickly becoming in every sense fabric of the society. The potential for Ethiopia is immense and we look forward to the future with optimism and excitement,” he added. 

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