Kenya's leading telecom firm Safaricom and South Africa's Vodacom said on Monday that they have completed the acquisition of the popular mobile money platform M-Pesa from Britain's Vodafone, the companies said in a statement.
A customer conducts a mobile money transfer, known as M-Pesa, at a Safaricom agent stall in Nairobi, Kenya October 16, 2018. REUTERS/Thomas Mukoya/File PhotoNAIROBI: Kenya's leading telecom firm Safaricom and South Africa's Vodacom said on Monday that they have completed the acquisition of the popular mobile money platform M-Pesa from Britain's Vodafone, the companies said in a statement.
The firms said that the acquisition of M-Pesa's brand, product development and support services from Vodafone was done through a newly-created joint venture."The transaction, which was first announced in 2019, will accelerate M-Pesa's growth in Africa by giving both Vodacom and Safaricom full control of the M-Pesa brand, product development and support services as well as the opportunity to expand M-PESA into new African markets," they said in a statement.
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