\tSafaricom CEO Bob Collymore predicted earnings from m-Pesa would comprise more than half of the company\u2019s revenue within four years, Reuters reported, as the mobile money platform continued to rapidly gain users in its latest financial year.<\/p>\n
Speaking at the company\u2019s analyst call for its fiscal 19 results (covering the year to 31 March 2019), Collymore also said the company was looking at other e-commerce revenue streams to supplement its earnings.<\/p>\n
In its fiscal 2019, m-Pesa contributed 31 per cent of Safaricom’s total revenue compared with 27 per cent in fiscal 18.<\/p>\n
During the recent period, revenue from its m-Pesa brand increased 19 per cent year-on-year to KES74.99 billion ($742 million). It attributed the growth to expanding user numbers, \u201chigher velocity funds in the ecosystem\u201d and development of new use cases.<\/p>\n
Safaricom also increased its number of m-Pesa agents by 7 per cent to 167,000 compared to end-March 2018. The number of active customers on the platform grew 10 per cent to 22.64 million.<\/p>\n
Over recent months the company added several new features to the platform including overdraft facilities [1].<\/p>\n
The company\u2019s total revenue for the year was KES250 billion, up 7 per cent. Net income increased 15 per cent to KES63.4 billion.<\/p>\n[1] https:\/\/www.mobileworldlive.com\/featured-content\/money-home-banner\/safaricom-ceo-reports-rapid-m-pesa-overdraft-uptake\/<\/p>\n","protected":false},"excerpt":{"rendered":"
Safaricom CEO Bob Collymore predicted earnings from m-Pesa would comprise more than half of the …<\/p>\n
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