Kenyan operator Safaricom reported a 24 per cent jump in M-Pesa revenue to KES19.4 billion ($190 million) in H1 2016, as its active user base reached 15.7 million.
Interestingly, the operator also revealed a breakdown of its monthly mobile money traffic. Of the KES160.2 billion of real-time payments it carries per month, the biggest chunk of KES107.4 billion is, unsurprisingly, person-to-person (P2P) payments, growing at 16 per cent.
P2P payments, or money transfer, is the cornerstone of M-Pesa.
However, both person-to-business (B2B) and business-to-person (B2P) payments are on the rise. B2B payments rose by 65 per cent to KES24 billion per month, while B2P more than doubled to KES28.7 billion per month.
Safaricom’s report also showed how much of the company’s overall revenue growth is due to M-Pesa. Total revenue in H1 FY16 was KES84.9 billion, up from KES75.6 billion in H1 FY15. Of the 9.3 billion increase, KES3.76 billion came from mobile money, the biggest contributor, ahead of broadband, voice and SMS.