VODACOM M-Pesa customers are set to reap 9bn/-interest on mobile money transactions being benefit of using the telecom services from April to September this year.
Vodacom Tanzania Director of eCommerce, Epimack Mbeteni said in Dar es Salaam over the weekend that the interest will be paid to over 8.3 million Vodacom M-Pesa customers’ 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,” he said adding that this is just three months after Vodacom Tanzania disbursed 50.4bn/-as dividend to its shareholders.
He added, “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,” Vodacom Tanzania, the leading telecommunication company has over 10 million customers on its M-Pesa platform commanding a market share of 41 per cent according to recent TCRA figures.
Vodacom Tanzania has so far paid out a total of 130bn/-as interest to its M-Pesa customers. Mbeteni added that the interest share per customers is calculated as per Bank of Tanzania (BoT) 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,” said Mbeteni.
