Mobile money transfer service M-Pesa has clocked 25 million subscribers thanks to launches in Albania and Ghana, and increased use in pioneer country Kenya.
Vodafone Group, which owns 40 per cent stake in Safaricom - the telco that launched and operates M-Pesa - said the growth has been supported by a network of more than 261,000 agents in 11 M-Pesa countries.
M-Pesa had 25.3 million active customers as of March 31.
It is available in 11 markets: Kenya, Tanzania, South Africa, Democratic Republic of Congo, India, Mozambique, Egypt, Lesotho, Ghana, Albania and Romania.
“Since 2007, M-Pesa has enhanced the lives and livelihoods of people without bank accounts, giving them access to essential financial services through their mobile phones," Michael Joseph,
Vodafone Group director of mobile money said in a statement.
"M-Pesa continues to expand, evolving beyond traditional money transfers to encompass savings and loans, payment of salaries and benefits, settlement of utility bills and school fees and to enable vital health and agricultural solutions.”
Over the past 12 months, Vodafone has signed new deals with partners to enable M-Pesa customers transact with other services and across borders.
The new services include direct money transfers between M-Pesa and MTN customers in seven countries across East Africa; launch of international money transfer services in Romania, Lesotho and Albania and enabling domestic mobile money services to be fully interoperable through a deal with major firms such as Vodacom.