M-PESA revenue surge propels Safaricom half-year profit to Sh34.2 billion
The reintroduction of M-PESA charges, along with the onboarding of more merchants on Lipa Na M-PESA, has increased M-PESA’s contribution to Safaricom’s earnings by 16.5 percent or Kes66.2 billion in the half that ended on September 30. Safaricom reports that business-related payments, such as bill payments and purchases, increased significantly by 40.2 percent or Kes17.6 billion YoY in the same period when M-PESA merchants saw a 22.3 percent uptick to 658,000. Out of the Kes18.3 trillion in transactions processed through M-PESA during this period, Kes 10.1 trillion, or 55.4 percent, were subject to charges, reflecting a 64.3 percent year-on-year increase, according to Safaricom. However, Safaricom…
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