M-Pesa subscribers to reap 3.5bn/- in ‘dividend’ payments

11Sep 2020
The Guardian Reporter
Dar es Salaam
The Guardian
M-Pesa subscribers to reap 3.5bn/- in ‘dividend’ payments

FOLLOWING successful first quarter operations for a period covering up to March this year, M-Pesa subscribers will share a whopping 3.5bn/- in profits this time around.

Vodacom Tanzania Plc’s headquarters in Dar es Salaam.

Vodacom Tanzania Plc said this week that the bonus interest payment to its mobile money users will benefit every individual or agent that has used the M-Pesa platform during the period.

“Customers who are eligible for the interest are the ones who transacted between January 1stto March 31st this year,” said Vodacom Tanzania’s Director of M-Commerce, Epimack Mbeteni who added that the profit will also be paid to M-Pesa business partners.

“Our mobile money service, M-Pesa, continues to be a remarkable success story, delivering significant social and financial value to Tanzanians. We have seen substantial growth on the platform with more customers, agents, merchants and institutions transacting more than 100bn/- each day,” Mbeteni noted.

Vodacom Tanzania is the domestic market’s leader with over 11 million subscribers on its M-Pesa platform commanding a market share of 39 percent according to latest figures from Tanzania Communications Regulatory Authority. Since its inception, the telco has so far paid out a record 133bn/- in profits to its M-Pesa customers.

The Vodacom Director of M-Commerce further noted that one’s profit share will be calculated as per Bank of Tanzania directives and will depend on the level of activity that the beneficiary undertook on the mobile money platform for the three months period.

“Distribution commenced on Tuesday and customers who are yet to get their share can find out by checking their M-Pesa balance. Upon receiving the disbursed amount, M-Pesa customers can redeem the interest via cash withdrawal, airtime or bundle purchases, and transact the bonus to pay bills or purchase products,” he advised.

The Vodacom M-Pesa platform is the most advanced in the country offering tailor-made products suited for the local market which have increased financial inclusion and stimulated economic activities across the country.

“Over the past 12 years, we have invested in innovations where through strategic partnerships with banks and innovators, have gone beyond transactions to introduce products such as M-Koba, M-Pawa, Halal Pesa, Songesha, M-Pesa MasterCard and many more. We remain committed to advancing financial inclusion and pushing for a digital economy in Tanzania,” Mbeteni pledged.

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