Kenya: M-Pesa Registers Sh2.5 Trillion in Transactions at Safaricom's Half Year Results
Posted on : Friday , 6th November 2015
Safaricom's money transfer service M-pesa transacted Sh2.5 trillion in the last six months.
The firm's CEO Bob Collymore made the announcement during the half year financial results release at the Michael Joseph Center in Nairobi on Thursday.
Collymore attributed the 24 per cent spike in revenue from M-pesa to an increase of customers using the platform.
"We added 3.25 million users and now have 22 million people using M-pesa."
Collymore added that the firm's network now supports 25.1 million subscribers which has contributed to a growth of 12.3 per cent or Sh84.9 billion compared to last year's Sh75.60 billion.
Safaricom's voice, short message, and data services all grew by three per cent, 11 per cent and 40 per cent respectively to Sh45 billion, Sh7 billion, and Sh9 billion.
The streamlining of data services across all tariffs and changes to voice calls on the post pay tariffs could be attributed to increase in earnings by the firm.
In May, the Communication Solutions provider effected changes to the Karibu post-pay tariff and announced that data, voice and messaging services would all expire after 30 days on the Sh1,000 and Sh2,500 price plans.
"We continue to deliver our strategy, by putting our customers first, providing relevant products and enhancing our operational excellence," Collymore added.
He defended the firm's position in the mobile communications solutions sector, against an on-going call by competitors and sector moderators to change the definition of dominance.
"Dominance is not a crime," he said.
The Communication Authority of Kenya and the Competition Authority are embroiled in a tussle to moderate the mobile telephony sector.
Among issues the two organisations disagree on is the definition of dominance, which if changed, could a see firms like Safaricom forced to break up elements of their business to ensure fair competition in the industry.
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