M-Pesa Update

Vodafone Group Plc
11 February 2008

 

10 February 2008

               M-PESA REACHES 1.6 MILLION CUSTOMERS IN 12 MONTHS

          Kenyans now able to send and store money safely and securely          


Safaricom and Vodafone today announce that M-PESA, the innovative mobile money
transfer service launched in March 2007, now has 1.6 million customers.

The benefit of facilitating micro transactions via text in a land like Kenya
where, in 2007, there were 400 bank branches, 600 cash dispensing machines and
over 10 million mobile phones is plain to see.

In the first 18 weeks alone 200,000 customers signed up for the service. 12
months later the results are impressive with over 1.6 million registered
customers, and approximately 200,000 additions per month.

M-PESA is used by customers for a wide range of money transfer transactions,
with an average value of Euro 30. Companies also use the service: Safaricom pays
casual workers and has distributed 40,000 low value cash prizes to its
subscribers using M-PESA. A number of small businesses, such as taxi drivers and
grocers, accept it as an alternative payment mechanism and it is often used by
consumers as a secure method of storing & transferring money in dangerous times.

Looking to the future, Vodafone anticipates that pension payments, and the
payment of standard services such as Safaricom contract phones, water and
electricity charges will also be made by mobile money transfer.

Michael Joseph, CEO of Safaricom said: 'M-PESA is a service designed to meet the
core needs of our customers in an emerging market. The fact that it has had a
strong take up in such a short time demonstrates its potential to drive positive
change.'


Vodafone also today announced that Afghanistan will be the second market to
launch a mobile money transfer service for mobile customers. The company has
also announced that India and other African markets will soon join Kenya and
Afghanistan in bringing this safe and secure service to millions more people.

Nick Hughes, Head of International Payments at Vodafone said: 'Vodafone is
extremely pleased by the success of M-PESA. During the course of this year we
plan to continue to extend of the uses of the service in Kenya and seek new
markets where the benefits of mobile money transfer can be used to assist people
in sending funds safely and securely.'

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For further information:

Vodafone Group

Investor Relations                             Media Relations
Tel: [phone]                       Tel: [phone]


About Vodafone

Vodafone is the world's leading international mobile communications group with
equity interests in 25 countries across five continents and over 252 million
proportionate customers at 31 December 2007, as well as 40 partner networks. For
further information, please visit www.vodafone.com

 

 

 




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