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Tanzania: Over 8 million M-Pesa customers to share in US$11.7M profit

The leading telecom provider has announced that its M-Pesa customers will over the next month and a half, receive their share of the bonus interest earned as a benefit from using the service.

Close to 8 million Vodacom M-Pesa customers will receive their share of the Tzs.27 billion ($11.718 million) profit distribution accumulated on M-Pesa Trust Accounts.

The leading telecom provider has announced that its M-Pesa customers will over the next month and a half, receive their share of the bonus interest earned as a benefit from using the service.

Speaking to the media, Vodacom Tanzania M-Commerce Director, Epimarck Mbeteni said, “We are thrilled to share M-Pesa interest with our customers because our customers are the reason for the M-Pesa success story. M-Pesa continues to transform the lives of millions of Tanzanians and today’s initiative will see more continue to benefit from it. All Vodacom customers that have been using M-Pesa will benefit from the interest which will be distributed via M-Pesa and deposited directly into their M-Pesa wallets. We have started distributing the Tzs. 27 billion interest fund to approximately 8 million customers”

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 added, “The amount that one would receive as their profit share will depend on the level of activity they would have had on M-Pesa for the said periodas well as their average balance. Such activities include transfers, bill payments and airtime purchases to name a few. I would like to encourage those customers to check to see how much they qualify to receive in this distribution by sending an SMS with the word AMOUNT to 15300.”

With 38.6% market share, M-Pesa remains the leading mobile money platform in the country being used by over 8 million Tanzanians transacting about TZS 4.1 trillion a month.“We have strategically invested in M-Pesa in the last decade and the service has grown into a versatile platform responsible for innovative solutions that address real needs of Tanzanians via products such as M-Koba, M-Pawa, Halal Pesa M-Pesa MasterCard and many more. We remain open and agile to advancing our offering through innovations and partnerships with corporates, innovators and business to drive the financial inclusion agenda in the country”summed Mbeteni.

Source: The Exchange

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