Safaricom has announced its full-year results for the 12 months to April 2023. The performance from M-PESA which contributed 39.7% to total revenue. The service continues growing, reaching 32 million customers who made 21 billion transactions worth KSh 35.9 trillion. More than 606,000 businesses accept payments through Lipa Na M-PESA.
Average customer usage was at 24.6 transactions per month which is more than double the pre-Covid period. The M-PESA Super App has 1.2 Millon customers using it per month with an average of 34 transactions per customer.
489 million transactions were made through the app worth KSh. 1.3 trillion generating KSh. 6.7 billion in revenue. The M-PESA Business Super App had 251,000 business owners using it making 51.2 million transactions in the year worth 217 billion transactions generating KSh. 658 million in revenue.
Launched in July 2022, M-PESA’s partnership with Visa has 600,000 virtual card users with KSh. 1.8 billion transacted. Merchant interoperability recorded KSh. 1 billion in transactions.
M-PESA continues to support government digitisation partnering with the national government to launch Hustler Fund and digitise the Women Enterprise Fund. For the first time devolved governments are set to benefit from a dedicated County App and platform that will digitise all their services including revenue collection.
As icing on the cake, The National Bank of Ethiopia has today granted Safaricom a licence to launch M-PESA services in the country. We are excited and look forward to onboarding our first customer in our 8th market.
