- Chief executive Shameel Joosub of Vodacom Group disclosed at an investor briefing this week that the company is contemplating selling part of its stake in mobile money platform M-Pesa.
- It will enable to company to unlock billions of shillings from the fast-growing service.
Chief executive Shameel Joosub of Vodacom Group disclosed at an investor briefing this week that the company is contemplating selling part of its stake in mobile money platform M-Pesa. It will enable to company to unlock billions of shillings from the fast-growing service.
M-Pesa is currently offered by Vodacom majority-owned subsidiaries in Tanzania, Mozambique, Lesotho and Democratic Republic of the Congo (DRC). It also owns an indirect stake in M-Pesa’s business in Kenya through Safaricom.
No timelines on the potential sale of the mobile money service was indicated indicating it will hold on to M-Pesa in the short term. Mr Joosub said that if a decision to sell part of M-Pesa, the options include selling a stake in the platform in specific countries or in M-Pesa Global Services .The proposal to unlock value from M-Pesa comes in the wake of rival Airtel Africa’s deals to sell minority stake in its continental financial service through its subsidiary Airtel Mobile Commerce BV.
