Safaricom has announced today that M-PESA customers will now be able to send and receive money from Tanzania. The move is aimed at increasing financial inclusion in the region and also boosting the regional integration agenda.
Safaricom will be partnering with its Tanzanian counterpart mobile service operator Vodacom. Kenya has 20 million M-PESA customers and Tanzania’s 7 million M-PESA customers and this will allow seamless transactions between the two.
Safaricom CEO Bob Collymore said that enabling the transactions between the two countries will make it more convenient for customers to transact across borders and unleash the power of a first of its kind cross-border payment system.
Rene Meza, CEO, Vodacom Tanzania said that it would boost the volume of transactions and trade between the two countries.
M-PESA is currently present in ten countries; Kenya, Tanzania, South Africa, Lesotho, DRC, Egypt, Mozambique, India, Romania, and Fiji.