Vodacom and Safaricom Buy M-Pesa

Africa-focused fintech brand M-Pesa has been sold by United Kingdom mobile phone giant Vodafone to its partially owned South African and Kenya subsidiary companies Vodacom and Safaricom. The two companies have formed a joint venture company which has acquired the brand as well as product development and support service functions.

Established in 2007, M-Pesa has been a front-runner in Africa’s already well-developed fintech sector, and is active in markets including Kenya, Tanzania, Ghana, Democratic Republic of Congo, South Africa, Mozambique, Lesotho and Egypt, as well as other countries in Eastern Europe and Asia.