Just three months after Vodacom Tanzania Plc disbursed 50.4 billion as dividend to its shareholders, the company has today announced an interest payment to its mobile money users. The over 8.3 Million Vodacom M-Pesa customers will receive their share of the Tsh9 billion accumulated on M-Pesa Trust Accounts as a benefit on using the service from April to September this year.
Vodacom Tanzania Director of M-Commerce, Epimack Mbeteni said the interest will be paid to all individual customers, retail agents and merchants who will receive payment based on their M-Pesa wallet transactions.
“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 M-Pesa platform with more customers, agents, merchants and institutions transacting through M-Pesa each day. We are happy with the growth of our customer base” he said.
Vodacom Tanzania PLC, the leading telecommunication company has over 10 million customers on its M-Pesa platform commanding a market share of 41% according to recent TCRA figures. Vodacom Tanzania PLC has so far paid out a total of Tsh 130billion as interest to it’s M-Pesa customers.
Mbeteni added that the interest share per customers is calculated as per bank of Tanzania circular and will depend on the level of activity they would have had on M-Pesa for the said period.
“Distribution commenced during holiday week, customers can SMS the word AMOUNT to 15300 to find out how much interest they will receive. 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 said.
The Vodacom M-Pesa platform is the most advanced in the country offering tailor-made products suited for the Tanzania market which have increased financial inclusion and stimulated economic activity across Tanzania.
“Over the past 11 year we have invested in innovations where through strategic partnerships with banks and innovators we 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.” summed Mbeteni
About Vodacom M-Pesa
Vodacom M-Pesa is Tanzania’s largest mobile financial service introduced by Vodacom Tanzania PLC in 2008. Now GSMA certified and with over 10 million customers, M-Pesa has significantly contributed towards financial inclusion and economic activity in the country. Customers deposit and withdraw money from their M-Pesa wallets through over 106,000 agents across the country. The M-Pesa ecosystem connects businesses, banks and government agencies making digital payments possible.
To date, M-Pesa continues to be the market leader in mobile financial services, rolling out innovative services such as savings & Loans, Virtual Debit cards, Overdraft services, Group savings, E-payments and many more which address the real needs of Tanzanians thereby enhancing financial inclusion and deepening.