Safaricom Completes Ksh149 Purchase of M-Pesa Cash Holding Unit

Kenyans Take Issue With Safaricom Over New Lines With Hustler Fund Defaults

Safaricom has successfully acquired M-Pesa Holding Company Limited, a London-based Vodafone Group subsidiary that manages billions of user dollars supporting Safaricom’s mobile money technology.

Safaricom paid Vodafone a token charge of around Ksh149 (USD 1) in order for the transactions to be approved by regulators.

For consumers in Kenya, the unit maintains customer funds in trust.

The deal comes after Safaricom and Vodacom of South Africa acquired the M-Pesa trademark from Vodafone in 2020 for Ksh2.1 billion through a joint venture.

As a result, it avoided having to pay the London-based corporation licensing fees.

By the end of March, M-Pesa Holding held Ksh196 billion in short-term investments, according to a Vodafone announcement from April.

It had roughly Ksh193 billion in client funds in its possession at the same time.

Vodafone claims that M-Pesa Holding donates its profits to charitable organizations.


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